24 September – LAWFUEL – The Law News Network – SQS Software Quality Systems AG was admitted today to trade on the AIM market of the London Stock Exchange. SQS is based in Cologne, Germany, and is the first German company to have a primary listing in London.
Dechert advised SQS both on the AIM admission and a related £10.8 million placing of ordinary shares with institutional investors. At float, the Company was valued at approximately £30m.
SQS is one of the largest independent European providers of software testing and quality management services. For more than 20 years, it has been offering a comprehensive range of consulting services for enterprise and technical software systems to its clients which now include blue chip companies in a variety of industries, including financial services, telecommunications, logistics and manufacturing.
David Vogel, London’s head of business law, who led the Dechert team, said: “It was extremely satisfying to help SQS become the first German company with a primary stock exchange listing in London. In addition to advising SQS from London on the float, our Munich office provided a comprehensive service dealing with German legal and corporate matters. In particular, we were able to identify and solve the complex issues surrounding clearing and settlement of German securities. We wish SQS well as a listed company and look forward to helping it develop in the future.”
In addition to David, associate Sean Geraghty assisted on corporate matters and Federico Pappalardo and Volkmar Bruckner, of Dechert’s Munich office, advised on German law.
