Drooms Supplies Virtual Data Room for Evonik IPO
Shares of Chemical Manufacturing Company Evonik Start Trading in Successful IPO Debut
Evonik Industries AG, one of the world's leading suppliers of specialty chemicals, successfully made its stock market debut on 25 April 2013.
Drooms provided support to Evonik in one of the largest initial public offerings in Europe with its virtual data room, which allowed for the secure and efficient exchange of documents and information for those conducting due diligence.
Thomas Mahlstedt, vice president of portfolio management and M&A at Evonik, said, "Drooms once again demonstrated its value to us during our IPO process with its excellent service and scalable tools."
During the due diligence stage of IPOs, Drooms enables all participating parties (issuers, consultants, auditors, and processing banks) to access relevant transactional information at any time and during every phase of the listing process. In addition to providing secure access to documents, Drooms also offers the following benefits:
- Maximum flexibility. All documents are available to authorised parties at any time, regardless of their location.
- Complete control. Access to documents and information are granted through a sophisticated user management tool, and all data room activities are recorded, right down to every mouse click.
- Strict security standards. Server facilities are ISO certified and located in areas that comply with data protection regulations. Additionally, all data is encrypted during transfer and storage.
"Drooms recognises the importance in providing a solution that enables sensitive transactions, such as an IPO, to be conducted securely and also be able to be tailored to the client's needs," said Jan Hoffmeister, co-founder of Drooms. "As a result, Drooms maintains its ability to adapt its virtual data room to allow the utmost transparency and usability to run smooth and efficient due diligence processes."