With Cherry and Bike 24, the list of candidates on the stock market was two companies longer on Monday.
In both cases it is about the sale of old shares and the issue of new shares.
Cherry AG, best known as a supplier of keyboards and mice for computers, wants to be listed in Frankfurt's Prime Standard this summer.
The company is expected to receive 140 million euros from a capital increase.
It is not known how much the owners want to give away.
The company from Auerbach in Upper Palatinate has been owned by the Hamburg-based investment company GENUI Partners since 2016.
It was not until September 2020 that the American Argand also joined as a majority investor.
Klaus Max Smolka
Editor in business.
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The proceeds from the IPO are to be used to finance organic growth and acquisitions and to repay debts. No information is given about the amount of the free float, but liquid trading should be guaranteed. Cherry had a turnover of 130 million euros last year, and operating earnings before interest, taxes, depreciation and amortization (Ebitda) amounted to 37.7 million euros. CEO Rolf Unterberger hopes for a 30 to 40 percent increase in sales in 2021 thanks to the dynamism of home office, eSports and computer games.
The financial investor Riverside announced that it will go public with Bike24, which sells bicycles and accessories online. A private placement is planned before the initial listing and a capital increase of 100 million euros is planned. In the wake of the IPO, the free float should reach at least 40 percent. The Dresden company could be valued at more than half a billion euros. Bike24 stated sales for 2020 at 199 million euros, the "adjusted operating result" at 26.7 million euros.
The chairman of the board, Andrés Martin-Birner, sees impulses from the accessories business in particular: "The customer buys a bicycle once, and then contact is usually lost," he recently told the Frankfurter Allgemeine Sonntagszeitung. There is currently great interest in the bicycle industry. The sports bike manufacturer Canyon switched from the American private equity house TSG to the Belgian financial holding Groupe Bruxelles Lambert (GBL). Transmission parts manufacturer hGears, which is estimated to generate a third of its sales with the bicycle industry, went public in May. Pure bicycle stocks are rare in Europe. The papers of the market leader Accell are traded in the Netherlands.
The list of aspirants to the stock exchange is getting longer: Online fashion retailer About You wants to collect 600 million euros in June. Porsche and the commercial vehicle division Daimler Trucks are also at the stock exchange gate. Atai Life Sciences from Berlin and the air taxi manufacturers Volocopter and Lilium are considering a listing via the acquisition vehicle Spac.