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12 May 20214 minute read

DLA Piper advises Montana Aerospace AG on its IPO on the SIX Swiss Exchange

DLA Piper has advised Montana Aerospace AG, a manufacturer of complex lightweight components and structures for the aerospace industry, on its successful initial public offering and listing on the SIX Swiss Exchange. The IPO consisted of a base offering of 17,153,997 new shares and an over-allotment option for 2,573,099 over-allotment shares held by Montana Tech Components AG, the previous sole and future majority shareholder. Montana Tech Components is also the majority shareholder of VARTA AG, which successfully went public in Frankfurt in 2017, and Aluflexpack AG, which celebrated its IPO on the SIX Swiss Exchange in 2019; in both IPOs, the issuers were advised by parts of the DLA Piper team. Total gross proceeds of the offering were approximately CHF507 million (including fully exercised over-allotment option). The first trading day on the SIX Swiss Exchange was 12 May 2021.

The IPO consisted of a public offering to investors in Switzerland and private placements to qualified investors in certain jurisdictions outside Switzerland, including the US. The shares were listed on the International Reporting Standard of the SIX Swiss Exchange. Joh. Berenberg, Gossler & Co. KG was mandated as Sole Global Coordinator and Joint Bookrunner for the transaction. Zürcher Kantonalbank AG and Commerzbank AG acted as Joint Bookrunners.

Montana Aerospace AG is a leading manufacturer of system components and complex assemblies for the aerospace industry with global development and production capacities. The company employs approximately 4,800 people working at 28 locations on four continents in the design, development and production of advanced technologies based on aluminum, titanium, composites, copper and steel, which are used in the future-oriented aviation, e-mobility and energy industries.

The DLA Piper team was led by Frankfurt based partner Dr Roland Maaß (Capital Markets, Frankfurt). Partner Tony Lopez and counsel John Stone (both US Securities Law, London) were in the lead on US law. The team also included senior associate Juliane Poss and associate Theresa Schenk (both Capital Markets, Frankfurt).