V Guard Real Estate Ipo

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Instone Real Estate Group N.V. Completes IPO Transaction

February 19, 2018

Instone Real Estate Group N.V., a leading German residential real estate developer with a focus on key metropolitan regions, successfully completed its IPO transaction, executed through an international private placement with institutional investors and a listing of its shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse).

Instone placed approximately 20 million shares, comprised of 7 million new shares from a capital increase and approximately 13 million existing shares from the holdings of the current shareholders, funds established by private equity owner ActivumSG Capital Management Limited.

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Subject to exercise of the greenshoe option, aggregate gross proceeds amounted to approximately €430 million with a free float of approximately 54 percent.

S&C acted as German and U.S. counsel to the issuer and also advised on the conversion of the issuer from a Dutch public company (naamloze vennootschap (N.V.)) into a German stock corporation (Aktiengesellschaft) following the listing.

The S&C core IPO team was led by Carsten Berrar and Krystian Czerniecki, along with Philipp Kloeckner and Karoline Koenig.

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York Schnorbus and Philipp Kloeckner advised on the planned cross-border conversion of the issuer into a German stock corporation (Aktiengesellschaft). Michael Rosenthal and Elisa Hauch advised on certain antitrust matters.

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Jeffrey Hochberg, Michael Orchowski and Slki Hong advised on U.S. tax aspects.

V guard real estate ipo