Quadriga Capital has floated German mailing systems solutions company Francotyp-Postalia on the Prime Standard in Frankfurt. The share price was set at EUR 19 and 2.7 million new shares were offered as part of a capital increase, resulting in gross primary proceeds of EUR 51m for the company. Following the IPO, the company will have a calculated market capitalisation of EUR 270m. Cazenove is acting as sole global coordinator and sole bookrunner in the offering. Commerzbank is acting as co-lead manager.
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Fund complements PAI's existing large-cap strategy with the aim of targeting mid-sized companies across Europe
Fund invests in European digital platforms and marketplaces, targeting pre-seed and seed rounds
Management team is led by Chris Shaw who was appointed as chief executive in September 2017