Capital Markets

Gleiss Lutz advises leading investment banks in their role as underwriters, and supports German and foreign issuers on the issue and placement of equity-, debt-, and hybrid instruments. Our advice spans the entire process from due diligence and documentation preparation, to obtaining approval from regulatory and supervisory authorities, to structuring the sale of securities and ascertaining the resulting obligations. We advise clients also on IPOs and secondary placements, rights issues, block sales, and private placements. Our expertise covers a wide array of financial instruments, including shares and shares represented by ADRs or ADSs, high-yield and investment-grade corporate bonds, convertible bonds, exchangeable bonds, reverse convertible bonds, profit-participation certificates, and shares or units in German or foreign funds.

We have a wealth of experience in advising German and international issuers on the admission of securities (initial and secondary listings). This experience relates in particular to trading on regulated markets, but also covers the inclusion of securities in the open market and the respective quality segments, especially the prime and entry standards of the Frankfurt Stock Exchange. We advise clients also on the fulfilment of obligations resulting from a listing, as well as on the delisting of securities or their relisting in another trading segment.

In addition to advising companies on the raising of funds on the capital market, we also work with lawyers from our corporate and litigation practices to cover all other legal issues faced by domestic or international businesses that result from the admission of financial instruments in Germany. Gleiss Lutz has many years of experience in advising clients on corporate governance issues, on the development of employee stock option plans, and on disclosure duties and other reporting responsibilities connected with listings on the regulated markets. We provide advice also on rules on insider trading, directors’ dealings, and other relevant legislation.

Gleiss Lutz works closely with leading capital market specialists from around the world, allowing us to draw on a flexible and proven international network. This makes it possible to provide seamless service across borders, including on the placement of shares with US investors under Rule 144A of the Securities Act.
more