A Practical Guide for German Companies Considering a US IPO
Going Public Magazin's special "Listing abroad" is a practical guide for German companies envisaging an initial public offering in the U.S. This guide offers definitive guidance and best practice concerning key issues German companies will consider when contemplating a U.S. listing. It includes contributions from NASDAQ and leading market participants, such as BNY Mellon, EY and Dechert, which all draw on their proven track record in advising German companies on successful U.S. listings. Dechert partners Berthold A. Hummel, Dr. Katja Heuterkes (both Munich) and David S. Rosenthal (New York) are featured in this special edition of Going Public Media. Read the full version of "Listing Abroad" (PDF).
- Reasons behind: German versus U.S. IPOs
by Berthold A. Hummel, Dechert LLP (Pages 10–12)
Analysis of the reasons why the significant number of German Foreign Private Issuers listing on NASDAQ or NYSE in recent years must not be afraid of the legal framework for U.S. initial public offerings compared to home country rules.
- Nasdaq on the move
Interview with Adam Kostyál, Senior Vice President of Listing Services, Europe, and Nelson Griggs, Executive Vice President of Listings Services, Nasdaq (Pages 18–19)
- ADR programs with single listings in the U.S.: Benefits and challenges
by Dr. Katja Heuterkes , Dechert LLP (Pages 24-25)
Foreign private issuers who are planning a single listing on a stock exchange in the U.S. are often confronted for the first time with the terms ADR or ADS when they start talking to their advisors or bankers in the preliminary phase of the IPO.
- “The Sarbanes-Oxley Act is not the big scary thing that it was originally perceived to be”
Interview with David Rosenthal, co-chair of Dechert’s Global Corporate Finance and Capital Markets Practice (Pages 26-27)