IPO: online retailer windeln.de successfully places shares at €18.50

by | May 5, 2015

Munich/Frankfurt, May 5, 2015 | windeln.de AG, a leading pure-play online retailer specializing in baby and toddler products, has set the offer price for shares in connection with its initial public offering (“IPO”) at €18.50 per share. The offer price is thus at the mid-point of the price range from €16.50 to €20.50 per share. The offering was well oversubscribed at the offer price.

A total of 11,404,899 shares of windeln.de were placed, thereof 5,400,000 newly issued ordinary bearer shares from a capital increase, 4,517,304 existing ordinary bearer shares from the holdings of the selling shareholders, and 1,487,595 existing ordinary bearer shares in connection with an over-allotment. In connection with the over-allotment, existing shares are borrowed from certain selling shareholders, which could be settled with newly issued shares from the Company (“Greenshoe Option”).

Founded 2010 in Munich, windeln.de is one of the leading pure-play online retailers retailers specializing in baby and toddler products in Germany, Austria and Switzerland, which has also established a successful e-commerce business of selling baby and toddler products to customers in China. windeln.de offers approximately 100,000 products from over 1,000 brands, which young parents can comfortably order online. The offer ranges from diapers and baby food to child furniture, toys, clothing, strollers and car seats, making windeln.de a one-stop shop for parents.

“We are particularly happy with the strong demand for the windeln.de shares and are looking forward to the first trading day.”

Alexander Brand, windeln.de


“The positive responses that we have received from investors confirm the attractiveness of our business model”, said Alexander Brand, management board member and co-founder of windeln.de. “We believe that windeln.de is very well positioned to capture the opportunities of our market. The IPO will help us to continue on our growth path,” added Konstantin Urban, management board member of windeln.de.

The total offer volume amounts to approximately €211 million (including over-allotment) based on the offer price. The Company will receive gross proceeds of approximately €100 million from the sale of the new shares. Provided that the Greenshoe Option is exercised, resulting in the issue of additional new shares, the total gross proceeds for the Company amount to approximately €127 million. All main existing shareholders of windeln.de will remain invested in the Company. The resulting initial free float will amount to approximately 42 percent of the Company’s post-IPO share capital, assuming full exercise of the Greenshoe Option.

The shares of windeln.de will be traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the ticker symbol WDL from 6 May 2015 (WKN: WNDL11, ISIN: DE000WNDL110). BofA Merrill Lynch, Deutsche Bank and Goldman Sachs International are acting as Joint Global Coordinators and Joint Bookrunners. Berenberg and COMMERZBANK have been mandated as additional Joint Bookrunners.

Über Acton Capital Partners

Acton Capital Partners ist ein internationaler Wachstumsinvestor mit Sitz in München. Seit 1999 investiert das Acton-Team erfolgreich in digitale Pioniere in Europa und Nordamerika.

Investmentfokus liegt dabei auf skalierbaren Geschäftsmodellen aus den Bereichen Future of Work, Digitale Marktplätze und Plattformen, Ecommerce, FinTech sowie Software-as-a-Service.

Bettina Engert Administrator
Director/Advisor , Acton Capital


About Acton Capital
Acton Capital is a leading growth venture capital investor in Europe. Since 1999, the Acton team supports digital startups in the fields of marketplaces, e-commerce, SaaS, FinTech or Future of Work on their way to market leadership. Acton Capital invests worldwide with strong focus on Europe and North America. With two decades of investment experience and a deep understanding of tech-enabled business models, the team has invested over EUR 500+ million across five fund generations.



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