DORDA Advises Advent on IPO of Addiko Bank
August, 2019 - Vienna, Austria
DORDA partners Andreas Mayr and Christoph Brogyányi advised Advent International Corporation in the context of the IPO of Addiko Bank AG. Advent, which indirectly held approximately 78% of Addiko Bank prior to the IPO, reduced its stake in Addiko Bank below 40% through the indirect sale of shares in the transaction. DORDA advised Advent primarily on the underwriting agreement and other agreements with Addiko Bank necessary for the IPO.
In advising Advent, DORDA cooperated closely with a team of Goodwin Procter (UK) LLP led by Markus K. Bauman.
With a market capitalization of about EUR 345 million, the IPO of Addiko Bank is the largest IPO in the top segment of the Vienna Stock Exchange and the largest financial IPO in Europe in the financial sector this year so far.
Addiko Group is a banking group with a focus on consumer business and small and medium-size enterprises (SME) lending activities, offering personal loan products for consumers and working capital loans for its SME customers. The bank has six subsidiaries in Croatia, Slovenia, Bosnia and Herzegovina, Serbia and Montenegro.
Advent is one of the largest and most experienced global private equity firms. With offices on four continents, they have established a globally integrated team of more than 195 investment professionals, focused on buyouts and growth equity investments.
In the course of the IPO of Addiko Bank the DORDA Capital Markets and M&A Team advised on behalf of Advent under the lead of Andreas Mayr (Partner, Capital Markets/M&A) and Christoph Brogyányi (Partner, Capital Markets/Corporate). They were supported by the associates Florian Nikolai, Adrian El Daly and Philipp Pärtan (all Capital Markets/M&A).
