21 May 2021
Latham & Watkins advised the consortium of banks on the IPO of SUSE S.A. (SUSE) on the Frankfurt Stock Exchange. In the course of the IPO, 37.3 million shares were placed at €30 per share. The total offer size, assuming full exercise of the Greenshoe Option, amounts to approximately €1.1 billion and implies a total market capitalization of €5 billion.
In addition to newly issued shares, existing shares held by Marcel LUX III SARL, a company indirectly owned by funds advised by EQT AB Group, were also placed. Marcel LUX III SARL also granted a Greenshoe Option to the accompanying banks.
The shares of SUSE S.A. have been traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange since 19 May 2021.
BofA Securities and Morgan Stanley acted as Joint Global Coordinators and Joint Bookrunners; with Deutsche Bank, Goldman Sachs, Jefferies and J.P. Morgan supporting the transaction as Joint Bookrunners.
SUSE is a global leader in innovative, reliable and enterprise-grade open source solutions. It specializes in Enterprise Linux, Kubernetes Management, and Edge solutions, and collabo-rates with partners and communities to empower customers to innovate everywhere - from the data center, to the cloud, to the edge and beyond.
The Latham team was led by Frankfurt partners Oliver Seiler and David Rath, with Munich Corporate partner Rainer Traugott, London partner Ryan Benedict, Frankfurt associates Camilla Kehler-Weiß, Isabel Willius, and Alexandre Maturana.