Homburger advised the Underwriters on the IPO of PolyPeptide Group AG on SIX Swiss Exchange

On April 29, 2021, PolyPeptide Group AG, a global leader in peptide development and manufacturing, announced the successful pricing of its initial public offering (IPO) at CHF 64 per share, implying a market capitalization of CHF 2.12 bn. The base offering of the IPO comprised 3,125,000 new shares issued in a capital increase and 8,396,740 existing shares sold by the selling shareholder, Draupnir Holding B.V. In addition, the selling shareholder has granted an over-allotment option to the underwriters of up to 1,728,261 existing shares, exercisable in whole or in part within 30 days following the first day of trading. The shares were listed and started trading on SIX Swiss Exchange on April 29, 2021 under the ticker symbol «PPGN».

Credit Suisse AG, Morgan Stanley Europe SE and Merrill Lynch International acted as Joint Global Coordinators and Joint Bookrunners, and Danske Bank A/S, Joh. Berenberg, Gossler & Co. KG and Zürcher Kantonalbank as Joint Bookrunners on the IPO.

PolyPeptide is a leading global independent contract development and manufacturing organization (CDMO) specializing in innovative peptides employed as the active ingredient in therapeutic products. Dating back to 1952, PolyPeptide is the world’s first dedicated peptide manufacturer and at present manufactures approximately half of all currently approved peptide drug substances. For the year ended December 31, 2020, PolyPeptide generated revenues of EUR 223.0 m and an adjusted EBITDA of EUR 62.0 m. With a global workforce of more than 900 employees, PolyPeptide has manufacturing sites across three continents.

Homburger acted as counsel to the underwriters. The Homburger team was led by partner Frank Gerhard and included lead associate Lorenzo Togni and associate Daniel Junginger (all Corporate / M&A and Capital Markets). Partner Stefan Oesterhelt provided tax advice.