Supervision of IPOs – also in cross-border context

The IPO of an Upper Austrian IT company at the turn of the millennium on the (in der deutschen Version ist hier Abstandsfehler) Frankfurt Stock Exchange, supervised by our law firm, can be described as a "text book example". It is therefore not surprising that the increase of capital stock prepared by our lawyers is still taught in the lecture halls of many universities today.

Particularly, the capital increase conducted at the beginning of the 2000s is still interesting today, since this increase of capital stock has been an important step to improve the initially insufficient liquidity of the shares. In order to make the shares easier to trade, a capital adjustment was carried out, i.e. a capital increase from the company's own funds. The advantage of this procedure was that the shareholders did not have to make any additional payments, but nevertheless received more shares.