Hengeler Mueller advises on IPO of Deutsche Pfandbriefbank

16. July 2015

Hengeler Mueller has advised on the initial public offering (IPO) of the shares of Deutsche Pfandbriefbank AG (pbb). Trading of the pbb shares has commenced today in the Prime Standard segment of the Regulated Market of the Frankfurt Stock Exchange. A total of 107,580,245 shares (including 6,589,289 shares in connection with an overallotment) were placed from the holdings of Hypo Real Estate Holding AG (HRE) and thereby indirectly by the Federal Republic of Germany through the Financial Market Stabilisation Fund (FMS) as owner of HRE. Based on the offer price, the total gross volume of placement amounts to approximately EUR 1.156 bn (including the overallotment). With the assistance of Hengeler Mueller, the IPO completes the dual track process for the purpose of pbb’s reprivatisation. Hengeler Mueller is acting as counsel to Hypo Real Estate Holding AG and Deutsche Pfandbriefbank AG (selling shareholder’s and issuer’s counsel).

The Hengeler Mueller team includes partners Johannes Adolff (Corporate/M&A), Dirk Bliesener (Banking) (both Frankfurt), Reinhold Ernst (IPO, Düsseldorf), Alexander G. Rang (IPO, Frankfurt), Christian Schwandtner (Corporate/M&A, Düsseldorf), Martin Klein (Tax, Frankfurt), Simon Patrick Link (Corporate, Munich), Joachim Rosengarten (Corporate, Frankfurt), Maximilian Schiessl (Corporate) and Dirk Uwer (Public Law) (both Düsseldorf), counsels Cecilia Di Ció (IPO), Mathias Link (Tax) (both Frankfurt), Andrea Schlaffge, Astrid Harmsen (both IP, Düsseldorf), Anna Schwander (IPO, Munich), Patrick H. Wilkening (Public Law, Düsseldorf) as well as associates Heiko Gotsche (Frankfurt), Martin Ulbrich, Katharina Hesse, Enno Ahlenstiel (all Düsseldorf), Johannes Baumann, Sophie-Charlotte Bechtold, Stefanie Bischof, Marco Brand, Annika Clauss, Carl-Philipp Eberlein (all Frankfurt), Hannah Nora Kristin Ehlers, Gerrit Forst, Caspar Jacob Haarmann, Christian Häußer, Henrik Humrich (all Düsseldorf), Alexander Kredig (Frankfurt), Elisabeth Kreuzer (Munich), Martin Mohr, Miriam Peter (both Frankfurt), Mikolaj Pogorzelski (Düsseldorf), Julian Ried, Nadine Rinck, Jochen Schnepper, Jan Letto Steffen and Peter Wehner (all Frankfurt).