Orrick Advises Ringmetall on Preemptive Rights Capital Increase


Deutsch: Orrick berät Ringmetall bei Bezugsrechtskapitalerhöhung

Orrick advised Ringmetall AG and ODDO BHF AG on the preemptive rights capital increase and the listing of the new shares on the regulated market (General Standard) of the Frankfurt Stock Exchange.

With the approval of the securities prospectus by Germany’s Federal Financial Supervisory Authority, a public preemptive rights offer was successfully made to the shareholders by August 14, 2018, during which ODDO BHF AG subscribed to the respective shares pursuant to Sec. 186 para. 5 of the German Stock Corporation Act (Aktiengesetz) and, at the end of the subscription period, distributed them to respective shareholders. The capital increase was entered into the commercial register on August 17, 2018 and the new shares were listed in the General Standard on August 21, 2018. The transaction was supported by ODDO BHF AG.

A leading international specialist in the packaging industry, Ringmetall AG develops, produces and markets product solutions for applications in various sectors through its industrial packaging and industrial handling divisions. In addition to its corporate headquarters in Munich, the company has branches in the UK, Spain, Italy, Turkey, the Netherlands, China, and the U.S. On a global scale, Ringmetall generates revenues of more than €100 million per year.

Ringmetall AG was advised by an Orrick team led by Munich-based capital markets partner Timo Holzborn, who regularly advises clients on IPOs and other capital markets transactions. The team also included partner Stefan Schultes-Schnitzlein (tax, Düsseldorf) as well as associates Olexiy Oleshchuk (capital markets and banking & finance, Munich) and Karl Ehrenberg (M&A and private equity, Munich).