EconomyMarkets

Tech firm Exclusive Networks could be valued at $2.5 billion in Paris listing By Reuters

© Reuters.

(Reuters) – French technology firm Exclusive Networks’s initial public offering (IPO) is oversubscribed and could value it at up to 2.1 billion euros ($2.48 billion), the bookrunners on the IPO said on Wednesday.

Ordinary shares being offered in the Euronext Paris debut next week are expected to be priced between 20 euros and 24 euros per share, they said.

The company, which helps cybersecurity companies connect to businesses, will be joining a long list of firms making their stock market debut in Europe this year, with listings hitting their highest level https://www.reuters.com/business/europe-feasts-sublime-ipo-bonanza-2021-is-it-getting-bloated-2021-07-01 in 14 years in the first half.

Exclusive Networks has offered up to 13 million shares in its IPO, while existing shareholders were expected to sell up to 6.5 million shares.

The bookrunners, which have an option to sell up to 2.7 million additional shares, said free float for Exclusive Networks could be around 23% after over-allotment options.

The tech firm plans to use the proceeds from the IPO to expand into different geographies and grow the business through mergers and acquisitions. It had reported a profit of 108 million euros in 2020 on gross sales of 2.9 billion euros.

($1 = 0.8468 euros)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button