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CMS Hasche Sigle advises 3i on Interhyp IPO

30/09/2005

Interhyp AG, one of the biggest independent providers of construction financing solutions in Germany today successfully launched its IPO. A team of CMS lawyers headed by partner Dr Andreas Zanner (capital markets) and Stefan-Ulrich Müller (corporate) advised 3i as selling shareholder on the IPO, having already advised 3i on its previous investment in Interhyp AG. Before the IPO 3i held 17.7 per cent of the shares, on full exercise of the Greenshoe option it will have 9.5 percent after the IPO. Deutsche Bank AG headed the consortium for the IPO. 
On their first trading day the Intertyp shares started from a share price of EUR 51. Thus, the initial price of the share, which is traded in the Prime Standard of the official market at the Frankfurt Stock Exchange, was a good 21 per cent above the issuing price of EUR 42. A total of 2,461,740 shares were sold, of those 700,000 were from a capital increase and 321,098 from a Greenshoe option. The volume placed was thus EUR 103.4m including the Greenshoe options. Interhyp has raised EUR 29.4m from the capital increase. Assuming full exploitation of the Greenshoe option, its widespread holdings after the capital increase will be 37.9 percent. 
The Interhyp IPO is the fifth this year and the second to be handled with the involvement of CMS Hasche Sigle. Dr Andreas Zanner was also involved in the first IPO of 2005 of biotech company PAION. 
CMS Hasche Sigle 
Dr Andreas Zanner, partner, Frankfurt, (capital markets) 
Stefan-Ulrich Müller, M.Jur., partner, Munich, (corporate) 
Dr Ulrich Springer, partner, Munich, (corporate) 
Philipp Melzer, associate, Frankfurt, (capital markets) 
Contact CMS Hasche Sigle: 
Dr Andreas Zanner 
Tel.: +49 (0)69 / 71701-139 
E-mail: Andreas.Zanner@cms-hs.com 
Stefan-Ulrich Mueller 
Tel.: +49 (0)89 / 23807-197 
E-mail: Stefan-Ulrich.Mueller@cmslegal.de 
About CMS Hasche Sigle: 
CMS Hasche Sigle is one of the leading German law firms with more than 420 lawyers. It covers the entire area of commercial law and provides legal advice to major German and international companies from a wide spectrum of industry. 
CMS Hasche Sigle operates at all the major business centres. It has offices in Berlin, Cologne, Duesseldorf, Frankfurt, Hamburg, Leipzig, Munich, Stuttgart, Chemnitz, Dresden, Brussels, Belgrade, Moscow and Prague. 
CMS Hasche Sigle is a partnership of lawyers and tax consultants; for register details / list of partners see www.cms-hs.com 
CMS Hasche Sigle is a member of CMS, an alliance of leading European law firms. With over 575 partners, a total of 2,000 lawyers and tax consultants and around 3,800 support staff we advise our clients in 24 countries in Europe and further afield on legal and tax issues. 
Local strength and legal tax advice tailored to the requirements of the market combined with a substantial amount of business and organisational integration form the basis for high-quality international legal advice. 
In addition to CMS Hasche Sigle, the following firms are also members of the CMS alliance: CMS Adonnino Ascoli & Cavasola Scamoni (Italy), CMS Albiñana & Suárez de Lezo (Spain), CMS Bureau Francis Lefebvre (France), CMS Cameron McKenna LLP (Great Britain), CMS DeBacker (Belgium), CMS Derks Star Busmann (the Netherlands), CMS von Erlach Klainguti Stettler Wille (Switzerland) and CMS Reich-Rohrwig Hainz (Austria). CMS has 57 offices in 24 countries in Western and Central Europe, North and South America, Asia and North Africa. 
For further information on CMS Hasche Sigle see www.cms-hs.com and on the CMS alliance see www.cmslegal.com