Enabling growth in a tough environment
Despite a challenging market and poor investor sentiment, we were able to help a leading German company raise €272 million via an Accelerated Bookbuild Offering. With 12,000 employees and 35 plants worldwide and 160 years of history, Gerresheimer AG is a global partner for the pharma, biotech and cosmetic industries.
The company offers a comprehensive portfolio of pharmaceutical containment solutions, drug delivery systems and medical devices as well as solutions for the health industry. In short, the company plays an important role in improving people’s health and well-being.
Acting as Joint Global Coordinators, our team provided timely and accurate advice to Gerresheimer. By using a customised wall-crossing approach, engaging in constant dialogue with investors and with the active participation of Gerresheimer’s management and investor relations team, we were able to generate early momentum and high-quality demand. 3.14 million new shares were placed at €86.50 and delivered in April 2023.
This was the largest German primary ABB in the Healthcare sector since early 2021 – and the funds will be used by Gerresheimer to capture significant growth opportunities, with a particular focus on high value pharmaceutical containment solutions and medical devices for biologics, including GLP-1 based drugs for the treatment of obesity. This will further strengthen Gerresheimer’s leading market position.
For Gerresheimer, this represented the first capital increase since 2007. A fast and reliable execution was key to us, to be able to seize the significant growth opportunities in the market. The UniCredit team guided us through the accelerated bookbuilding process, provided valuable advice at every step of the way and ensured a fast and smooth transaction.”
CFO Gerresheimer AG
We have been the core bank for Gerresheimer for many years. Working with the ownership across different product teams gave us a great opportunity to structure tailored solutions that delivered key benefits to our client.”
Coverage Banker UniCredit Bank GmbH (“HypoVereinsbank”)