Berenberg, Jefferies picked as global coordinators for listing. Mister Spex targets Frankfurt exchange for IPO in first half.

Mister Spex, one of Germany’s largest online eyewear retailers, is joining a growing list of German companies preparing for initial public offerings this year, according to people familiar with the matter.

Berlin-based Mister Spex has picked Berenberg and Jefferies Financial Group Inc. to lead the IPO, the people said, asking not to be identified as discussions are private. Other banks will likely be added to the roster at a later date, the people said.

The company is targeting a Frankfurt listing as soon as the first half of the year, according to one of the people. Deliberations are at an early stage, and details on timing could change, the people said. Representatives for Mister Spex, Berenberg and Jefferies declined to comment.

As companies across Europe rush to market, Frankfurt could play host to some of the biggest anticipated IPOs of 2021. Vodafone Group Plc is on track for a first-quarter listing of its Germany-based Vantage Towers unit that could raise about 4 billion euros ($4.9 billion), Bloomberg News has reported.

Buyout firm EQT AB is planning to list or sell German cybersecurity provider Utimaco GmbH this year, while enterprise software developer SUSE and fashion e-commerce site About You GmbH have both picked banks for potential IPOs, Bloomberg News has reported. SoftBank Group Corp.-backed online used car retailer Auto1 Group SE announced plans this week for an IPO that could raise about 1 billion euros.

Mister Spex, founded in 2007, sells contact lenses and designer spectacles and sunglasses across Europe online and through 34 shops it operates in Germany. The company also has a network of more than 500 partner opticians. Its backers include Goldman Sachs Group Inc.’s merchant banking arm, technology investor Scottish Equity Partners, DN Capital and European venture capital firm XAnge.

In 2019, the company’s revenue rose to 139 million euros and it reported 2 million euros of adjusted earnings before interest, taxes, depreciation and amortization. The company expects to report an increase in sales in 2020 and 2021, it said.


Source: Bloomberg

By Myriam Balezou and Aaron Kirchfeld