UBS Warburg is leading the flotation of Nordsee, a fish restaurant operator, the bank's first initial public offering in Germany since the flotation of Deutsche Post, the part-privatised German postal service last year.

Roughly one-third of Deutsche Post was privatized in November in a €6.6bn ($5.6bn) IPO led by UBS and Deutsche Bank. The deal helped push UBS to fourth place in the league tables for equity offers on the Frankfurt exchange in 2000, according to Capital Data Bondware.