Under the guidance of Ulrich Reers and Lars-Gerrit Lüßmann, Gowling WLG is called on by clients looking to list or place secondary issuances, with further expertise in acting for private equity sponsors in the context of ECM transactions.

Latham & Watkins LLP takes instructions from both issuers and bank underwriters in relation to IPOs, also acting for private equity houses looking to dispose of assets via public listings or dual-track exits. The team is well positioned to assist first-time issuers with listings on stock exchanges in Germany and across Europe, as well as on US exchanges. Oliver Seiler, who heads the group, frequently oversees IPOs on German exchanges and is experienced in handling dual-track exits on behalf of sponsors, with David Rath adding further IPO expertise alongside his work handling spinoffs and also US-registered offerings. Also active across the spectrum of equity-based transactions is Camilla Kehler-Weiß, who tackles, inter alia, listings and capital raisings.

Linklaters marks itself out with its listing capabilities across the DACH region and other European jurisdictions, overseeing IPOs in Frankfurt, Switzerland and further afield. The capital markets team also works alongside the firm’s private equity group to handle dual-track exits and is further tasked with advising syndicates of underwriters in relation to prospective listings. Global co-head of the firm’s equity practice Marco Carbonare advises on IPOs, spinoffs and dual-track deals governed by German, US or English & Welsh law, while Alexander Schlee assists clients in raising capital via equity and debt strategies.

Sullivan & Cromwell LLP offers considerable experience in structuring IPOs on both the issuer and underwriter side, overseeing bookbuilding processes und subsequent listings. The practice also handles private placements and tackles secondary issuances. Co-heading the firm’s global capital markets team is Carsten Berrar, whose practice encompasses IPOs, including subsidiary IPOs and rights issuances. Clemens Rechberger provides further listings expertise, alongside his work in the debt capital markets. Both Berrar and Rechberger are admitted to practice in New York, allowing them to assist clients looking to place SEC-registered shares on US exchanges.

Clifford Chance is tapped by clients looking to list in Frankfurt and further afield, with further expertise in secondary offerings and also in acting for underwriter syndicates in relation to IPOs. In addition to listings in European jurisdictions, the practice is well versed in US matters, including Rule 144A deals. Heading the team is dual US and German-qualified George Hacket, sought after by both issuing corporates and bank underwriters on initial and secondary offerings, as well as his expertise on regulations governing listed companies. Axel Wittmann offers expertise in both IPOs and public M&A transactions, and is also frequently tasked with leading the restructuring of distressed listed companies.

Hengeler Mueller is tapped by clients in the leadup to their listings on the Frankfurt Stock Exchange, in addition to assisting already-listed corporates wishing to place additional shares. These form the core of Dirk Busch‘s practice, and he is also able to act for bank underwriters in their role in IPOs and advises on the organisation of shareholders’ general meetings. Reinhold Ernst advises on IPOs in their own right, in addition to overseeing spinoffs and dual track divestments, all of which also fall within Alexander Rang‘s capabilities. Caspar Haarmann acts for private equity houses in relation to their exits via IPOs.

Milbank‘s ECM expertise spans the gamut of issuer and underwriter-side mandates, with the firm also assisting private equity sponsors with IPOs and dual-track exits, in addition to guiding listed clients through, post-listing equity deals and delistings. Philipp Klöckner, who heads the group, brings considerable experience in overseeing IPOs from the perspective of issuers, shareholders and banks, in addition to taking on SPAC and de-SPAC transactions. Karoline König, who joined the firm from Sullivan & Cromwell LLP in December 2024, is well versed in NYSE and NASDAQ IPOs, utilising her admission in New York.

A&O Shearman acts for issuers and underwriters in preparations for IPOs, in addition to overseeing subsequent share issuances and placements as part of capital raising processes. In addition to taking on German ECM work, the practice makes use of its international network to tackle cross-border equity-based deals tied to the UK, US and Luxembourg, among others. The firm’s German ECM operations are spearheaded by Knut Sauer, who works alongside Marc Plepelits, head of the German US finance team. Nadine Kämper helps clients set up for IPOs and also supports them with secondary offerings and rights issuances.

Gleiss Lutz works with German issuers on both domestic and US listings, in addition to overseeing Rule 144A placements on US markets and capital raises across various jurisdictions. Practice head Stephan Aubel is responsible for overseeing clients’ IPOs, combining this with expertise in M&A exits. Christian Schröder is equally sought after by issuers and underwriters in connection with IPOs.

Hogan Lovells International LLP frequently acts for banks in relation to both share issuances and capital raising mandates, in addition to assisting clients looking to list. On the latter front, the firm is able to provide assistance on compliance with required regulatory regimes, advising on German and EU law. Heading the team is Michael Schlitt, who covers IPOs, rights issuances and block trades as part of a broader corporate finance practice.

Noerr‘s focus in the equity capital markets lies in the midcap domain, with the firm assisting clients with initial listings, capital raises, in addition to also handling already-listed companies’ switches to other indexes. Leading the practice is a duo consisting of Julian Schulze De la Cruz and Holger Alfes, with De la Cruz focusing on the spectrum of equity transactions, including IPOs and the restructuring of listed companies, while Alfes offers combined expertise in capital markets and M&A transactions.

White & Case LLP‘s ECM expertise spans both German and US law, with the firm’s practitioners frequently working on IPOs and rights issuances, in addition to handling the structuring and issuance of convertible bonds. Advising both underwriters and issuers on IPO procedures is Thilo Diehl, who also oversees secondary offerings. Yannick Adler and Rebecca Emory both take on a range of equity-based transactions, including share issuances and business combinations.

Willkie Farr & Gallagher LLP offers a broadly structured ECM practice, acting for listing companies and their sponsors, as well as syndicates of bank underwriters, on IPOs, bookbuilding transactions and secondary issuances. Heading the team is the duo of Joseph Marx, who accompanies clients through the spectrum of share offerings and is also well versed in Rule 144A placements, and Simon Weiß, who alongside IPOs also oversees capital raises and other equity-linked transactions. Martin Kalbhenn provides combined equity-linked transactions and corporate law expertise.

Ashurst LLP is called upon by clients looking to execute capital raising transactions, in addition to handling aspects of IPOs on German and other exchanges. Heading the team is Matthias von Oppen, qualified in both Germany and England & Wales, who offers considerable experience in overseeing IPOs, from the perspective of issuers, underwriters and sponsors.

Heuking is the firm of choice for numerous small and mid-sized companies looking to list on various German exchanges or execute capital raising transactions. Jointly leading the team are Anne de Boer, who covers equity-based and other capital raising strategies, and Mirko Sickinger, whose expertise spans IPOs and broader corporate law matters. Thorsten Kuthe is noted for handling IPOs and questions of stock corporation law.