PharmaSGP’s €378 Million IPO

Sullivan & Cromwell represented PharmaSGP on the first successful IPO in 2020 in the Prime Standard segment of the Frankfurt Stock Exchange. Milbank LLP advised the existing shareholders of PharmaSGP Holding SE.

PharmaSGP Holding SE, a leading pure-play consumer health company focusing on chemical-free OTC pharmaceuticals, has succeeded in a volatile market environment with the first Prime Standard IPO this year.

In the course of the IPO, 4.025 million shares of PharmaSGP Holding SE were placed from the holdings of the existing shareholders, of which 0.525 million shares were placed as part of an over-allotment (“Greenshoe”), at €31.50 per share. Stock exchange trading commenced on 19 June 2020. The placement resulted in a free float of approximately 33.5% after the IPO.

Berenberg acted as Sole Global Coordinator and Sole Bookrunner for the offering.

Pharma SGP is a pharmaceutical company headquartered near Munich with a broad portfolio of leading non-chemical, over-the-counter drugs and other healthcare products.

The S&C team in Frankfurt advising PharmaSGP was led by Carsten Berrar (Picture), Krystian Czerniecki and Felix Ganzer.

The Milbank team included Christoph Rothenfusser, Norbert Rieger, Matthias Schell, Sebastian Reiner-Pechtl, Hauke Lorenzen, Malte Krohn, and Arne Hammerich.

Involved fees earner: Arne Hammerich – Milbank; Malte Krohn – Milbank; Hauke Lorenzen – Milbank; Sebastian Reiner-Pechtl – Milbank; Norbert Rieger – Milbank; Christoph Rothenfusser – Milbank; Matthias Schell – Milbank; Carsten Berrar – Sullivan & Cromwell; Krystian Czerniecki – Sullivan & Cromwell; Felix Ganzer – Sullivan & Cromwell;

Law Firms: Milbank; Sullivan & Cromwell;

Clients: Beratungs-GmbH; FUTRUE GmbH; PharmaSGP GmbH;