Ashurst advises hGears AG on IPO in Prime Standard

Ashurst advised hGears, a global manufacturer of high-precision gears and components with a focus on products for e-mobility, on its IPO in the Prime Standard segment of the Frankfurt Stock Exchange. The listing took place on 21 May 2021.

The offering consisted of 2,400,000 new shares from a capital increase and the placement of up to 4,270,000 existing shares of the shareholders, including an upsize option and a market standard over-allotment option. The offer price of the shares in the Prime Standard segment was set to €26.00 in the middle of the price range. At the offer price, this results in a market capitalization of €270m.

hGears is based in Schramberg/Germany and operates worldwide with production facilities in Schramberg/Germany, Padua/Italy and Suzhou/China. The main shareholder of the company is the Frankfurt-based private equity company Finatem, which acquired the company in 2011.

Hauck & Aufhäuser acted as Sole Global Coordinator and jointly with ABN AMRO (in cooperation with ODDO BHF SCA) as Joint Bookrunners in the IPO.

The Ashurst team was led by partner Matthias von Oppen (Corporate Transactions, Frankfurt). He was assisted by partner Jennifer Schneck (Corporate Transactions, London) and partner Dr Gerrit Clasen (Stock Corporation Law), senior associate Dr Valentin Pfisterer as well as associates Jeffrey Miller and Quynh Anh Le (all Corporate Transactions, Frankfurt).