Osborne Clarke has advised REWE-ZENTRALFINANZ eG and another shareholder on the IPO of Home24.
The company's shares started at a price of EUR 28.50 in Frankfurt. This offer corresponds to a premium of around 24% at an issue price of EUR 23. The 6.5 million issued shares are accompanied with over-allotments of nearly a million shares. The IPO was accompanied by Berenberg, Citigroup and Goldman Sachs.
Launched in 2009 in Berlin, Home24 delivers furniture in seven European markets, plus Brazil. The online furniture retailer belongs to the incubator Rocket Internet. Other investors include, Sweden-based venture capitalist Kinnevik and the Irish investor Baillie Gifford, amongst others.
An Osborne Clarke team led by Till-Manuel Saur advised REWE-ZENTRALFINANZ and another shareholder of Home24. The team included Nicolas Gabrysch, Sophie Hoffmann (all Corporate), Dr Matthias Terlau, Patrick Smith and Laura-Kristine Meliss (all Capital Markets).
The firm’s work was closely interlinked with the in-house team of REWE--ZENTRALFINANZ led by Dr Björn Schigulski.
