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- Overall demand representing 1.8 times the number of shares offered;
- Share price set at €10.70;
- Share capital increase of €7 million;
- Total Placement of €32.8 million, which may be increased to €37.7 million if the over-allotment option is exercised in full;
- Shares admitted for trading on Wednesday 4 April 2018.
28 March 2018. Vente-unique.com (ALVU), a European online furniture retailer, announces the success of its IPO on the Euronext Growth Paris market.
The transaction was a complete success, with overall demand for 4.939.494 shares, 1.8 times the number of shares offered. The global placement, mainly allocated to institutional investors, represents 96% of demand (from 27 institutional investors in 5 countries) and the open price offer, mainly allocated to individuals, represents 4% of demand (from 1.012 individual investors).
Vente-unique.com's Board of Directors, which met today, set the IPO price at €10.70 per share.
654.205 new shares will be issued as part of the transaction, representing a capital increase of a gross amount of €7 million. 2.412.662 existing shares will be allocated as part of the transaction, representing a gross amount of €25.8 million, following 100% exercise of the extension clause.
2.886.295 shares were allocated to the global placement and 180.572 shares to the open price offer. As part of the open price offer, P orders (reserved for CAFOM shareholders), A1 orders and A2 orders will be served at 100%.
Following the transaction, Vente-unique.com's capital now comprises 9.441.905 shares, representing a market capitalization of €101 million based on the IPO price. The public float represents 32.5% of the Company's share capital before any potential exercise of the over-allotment option.
Sacha Vigna, Chief Executive Officer of Vente-unique.com, MADE the following comments: "It is with great pride that we have successfully performed the first initial public offering for the year on the Euronext markets in Paris, despite a tight environment. I would like to express my deep thanks to the institutional and individual investors for their trust and support for our project, and to the partners who have worked with us for several months.
This transaction enables us to contribute to financing other CAFOM Group projects, which has nurtured and supported us since 2006, and offers us the additional financial resources required to continue our successful expansion throughout Europe."
Share settlement and delivery is scheduled for 3 April 2018. trading of Vente-unique.com shares is scheduled to commence on Wednesday 4 April 2018 at 9.00 am, Paris time.
Provisional transaction schedule
|3 APRIL 2018||Completion of OPO issue and Global Placement|
|4 April 2018||Company shares admitted for trading on Euronext Growth|
|27 April 2018||Deadline for exercise of over-allotment option
Stabilisation period ends, where applicable
Availability of the prospectus
Copies of the prospectus approved by the AMF on 13 March 2018 under number 18-083, comprising the Base Document as registered with the AMF on 23 February 2018 under number I. 18-005, and a transaction circular (including a summarised prospectus), can be viewed free of charge at Vente-Unique.com's offices (9/11 rue Jacquard – 93315 Le Pré Saint Gervais CEDEX), on Vente-Unique.com's website (bourse.vente-unique.com) and the AMF website (www.amf-france.org).
Vente-unique.com would like to draw investors' attention to Chapter 4 “Risk factors” of the Base Document as registered with the AMF (including risks arising from the importance of the Company's relations with CAFOM Group companies described under section 4.3.1) and Chapter 2 “IPO risk factors” of the transaction circular.
Financial and advisory parties
and listing sponsor
|MIDCAP PARTNERS||EUROLAND CORPORATE||HOCHE AVOCATS||CONCEPT AUDIT & ASSOCIES||ACTUS finance & communication|
Read more on: bourse.vente-unique.com
Founded in 2006, Vente-unique.com (Euronext growth – ALVU) is a European specialist in online furniture sales. The company covers 10 countries (France, Germany, Austria, Belgium, Spain, Italy, Luxembourg, Netherlands, Portugal and Switzerland) and has delivered to over 1 million customers since its inception. Vente-unique.com posted 2016/17 revenues of €77 million, up 13%, and an ebitda margin of 9.2%.
|ACTUS finance & communication|
|Jérôme Fabreguettes-Leib||Nicolas Bouchez|
|Investor Relations||Press Relations|
|+33 (0)1 53 67 36 78||+33 (0)1 53 67 36 74|
This press release and the information it contains do not constitute an offer to sell or the solicitation of an offer to buy the securities of Vente-unique.com in the United States or in any other jurisdiction.
The securities referred to herein may not be offered or sold in the United States or to US persons unless such securities are registered under the US Securities Act of 1933, as amended (“US Securities Act”), or an exemption from the registration requirements of the US Securities Act is available. Vente-unique.com shares have not been and will not be registered under the US Securities Act and Vente-unique.com does not intend to undertake a public offering of its securities in the United States.
This press release is an advertisement and does not constitute a prospectus within the meaning of Directive 2003/71/EC of the European Parliament and the Council (the “prospectus Directive”), as amended, to the extent such Directive has been transposed in the relevant Member State of the European Economic Area.
With respect to the Member States of the European Economic Area, other than France, which have implemented the Prospectus Directive (each a “Relevant Member State”), no action has been undertaken or will be undertaken to make an offer to the public of the securities requiring a publication of a prospectus in any Relevant Member State, other than France. As a result, the new or existing shares of the Issuer may not be offered and will not be offered in any Relevant Member State, other than France, except as permitted under Article 3 of the Prospectus Directive and/or regulations applicable in the Relevant Member State.
For the purposes of this provision, an “offer to the public” in relation to the new or existing shares of the Issuer in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the offer and the new or existing shares of the Issuer to be offered so as to enable an investor to decide to purchase the new or existing shares of the Issuer, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State.
In the United Kingdom, this document does not constitute an approved prospectus for the purpose of and as defined in section 85 of the Financial Services and Markets Act 2000 (as amended) (the “FSMA”), has not been prepared in accordance with the Prospectus Rules issued by the UK Financial Conduct Authority (the “FCA”) pursuant to section 73A of the FSMA and has not been approved by or filed with the FCA or any other authority which would be a competent authority for the purposes of the Prospectus Directive. The new and existing shares in the Issuer may not be offered or sold and will not be offered or sold to the public in the United Kingdom (within the meaning of sections 85 and 102B of the FSMA) save in the circumstances where it is to be lawful to do so without an approved prospectus (within the meaning of section 85 of the FSMA) being made available to the public before the offer is made.
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