Ashurst advised the bank consortium comprising ODDO SEYDLER BANK AG (ODDO SEYDLER) and Banca IMI on the initial public offering (IPO) of Steilmann SE, one of the largest apparel companies in Germany, in the regulated market (Prime Standard) of the Frankfurt Stock Exchange. ODDO SEYDLER acted as Global Coordinator and, together with Banca IMI, as Joint Bookrunners.

In the face of the volatile market environment Steilmann SE has taken the strategic decision to reduce the offering size of its IPO to the minimum amount required for the admission of its shares to the regulated market. Ultimately, 2,250,000 newly issued ordinary bearer shares and 250,000 shares as part of the over-allotment option were placed for an offer price of €3.50 per share. With the admission of the shares Steilmann SE intends to gain access to new strategic options and further financing opportunities in the future.

The Ashurst team was led by Frankfurt-based corporate finance partner Matthias von Oppen. He was assisted by senior associate Dr. Ian M. Maywald as well as associates Joanna Wilczynska-Gluch and Dominik Richers. Partner Stuart Rubin (Hong Kong) and counsel Ethan Perry (Singapore) advised on US law.

Ashurst is one of the leading law firms advising issuers and underwriters on domestic and international capital markets transactions. In July 2015, the firm advised WCM Beteiligungs- und Grundbesitz-AG on its successful €156 million rights issue.

Steilmann SE Group is one of the largest apparel companies in Germany by revenue. The company operates in a growing segment of the industry, focusing on the Best-Ager segment (45 plus). The company's product portfolio consists of its own brands, such as Steilmann and Stones, as well as third-party brand apparel. In fiscal year 2014, Steilmann SE Group had over 8,300 employees in 18 countries worldwide and generated revenues of approximately €896 million.