Lower obstacles for IPOs of smaller companies in the US

In this interview with German business paper Börsen-Zeitung, Berthold Hummel, a partner with Dechert LLP in Munich, has explained if and why smaller German or European companies can profit from lower regulatory obstacles at Nasdaq or the New York Stock Exchange.

Dechert LLP just recently represented voxeljet AG, a leading German provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers in its $97.2 million initial public offering of 7,475,000 American Depositary Shares (ADS) at a public offering price of $13 per ADS, which reflects the exercise of the full underwriters’ overallotment option and includes 1,875,000 ADS sold by selling shareholders. The company’s currently trades with a market cap of approximately USD 600 million on the New York Stock Exchange.