€1.179 million IPO of Premiere
Global coordinators/bookrunners: CSFB, HVB, Morgan Stanley
Date: March 8 2005
Pay-TV operator Premiere injected much-needed confidence into the German IPO market last month with the country’s largest ever media IPO. Its debut on March 8 2005 was an important test for market sentiment.
“The German IPO market has been rather skittish for the past few years, with transactions either being downscaled or abandoned,” says Marco Illy, head of investment banking for Germany, Switzerland and Austria at CSFB.
The last three German IPOs, from Paion, Epigenomics and Deutsche Postbank, were all forced to revise their price range downwards.
By contrast, “this deal was hugely successful”, Illy says.
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