3i celebrates Interhyp IPO

Online mortgage broker, Interhyp has achieved a successful flotation on the Frankfurt Stock Exchange, attracting demand of over 30 times the amount on offer and providing a partial exit for minority shareholder 3i.

3i originally invested €7.2m in Interhyp in 2000 for a 17.7% stake in the company. The firm has sold 40% of its secondary shares and now holds a 10.8% stake in the company. 3i partner Christian Siegele will remain on the board.

Ernst & Young recently recognized Interhyp’s founders and executive board members Robert Haselsteiner and Marcus Wolsdorf as “German Entrepreneurs of the Year 2005”

Christian Siegele from 3i’s German venture team, said: “3i is delighted with Interhyp’s successful listing today and particularly excited to continue working alongside its outstanding management team, who in the last three years alone, has profitably grown Interhyp’s revenues sevenfold, solidifying its position as Germany’s premier mortgage broker consultancy.”