DLA Piper advises ASTA Energy Solutions AG on its IPO on the Frankfurt Stock Exchange

DLA Piper has advised ASTA Energy Solutions AG, a globally active, vertically integrated manufacturer of high-quality copper-based solutions for energy transmission and industry based in Austria, on its successful initial public offering (IPO) on the Frankfurt Stock Exchange which took place on 30 January 2026. This was the first IPO in Germany in 2026.

The IPO consisted of an offering of 4.24 million new shares, and 1.37 million existing shares from the holdings of ETV Montana Holding GmbH and Makra GmbH, both controlled by DDr. Michael Tojner, and an over-allotment option of 0.84 million over-allotment shares from the holdings of ETV Montana Holding GmbH, which, together with Makra GmbH, will continue to be the majority shareholder in the future. At an offer price at the upper end of the price range (EUR29.50), the total placement volume was approximately EUR190 million, assuming full exercise of the greenshoe option. A total of EUR55 million of the placement volume had already been placed with cornerstone investors prior to the IPO. The shares of ASTA Energy Solutions AG are listed on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange.

The IPO consisted of a public offering to investors in Germany and Austria as well as private placements to qualified institutional investors in other notable jurisdictions, including the United States. Berenberg was mandated as sole global coordinator and joint bookrunner for the transaction; COMMERZBANK (in cooperation with ODDO BHF) and Raiffeisen Bank International acted as joint bookrunners. Baader Bank was involved as co-lead manager without an underwriting role.

The gross proceeds attributable to the issuer of approximately EUR125 million will support the company's international expansion. The proceeds from the offering will be used expand global production capabilities, strengthen supply chains and make additional investments in recycling and casting capacities. In addition, the company's capital structure will be further strengthened and its financial flexibility increased.

ASTA Energy Solutions AG is part of the ASTA Group, headquartered in Oed, Austria. The company operates six production sites in Austria, Bosnia and Herzegovina, Brazil, China and India and employs around 1,400 people. The company's products are used in modern energy transmission systems, particularly in medium and high-voltage transformers, industrial generators and, increasingly, in the growing data centre infrastructure sector.

The multijurisdictional DLA Piper team and the entire project were jointly led by partner Dr Roland Maaß and counsel Juliane Poss (both Capital Markets, Frankfurt). Partner Dr Christian Temmel and counsel Dr Christian Knauder Sima (both Capital Markets and Corporate, Vienna) were in charge of all matters relating to Austrian law. Associates Alexander Hofsepjan and Benedikt Mail (both Capital Markets, Frankfurt) provided support as the core team. Counsel John Stone (US Securities Law, London) provided additional support.