It is now official: Parts Holding Europe took its first steps on the regulated market of Euronext in Paris on May 25, 2021, with a price set between 16 and 20 euros per share. Either a “ market capitalization of around 1.1 billion euros calculated from the midpoint of the range ,” said the group in a press release.
The offer will include a maximum of 28.125 million new ordinary shares, representing a capital increase of approximately 450 million euros. The share of free-float capital will represent between 45% and a little over 50% depending on the exercise of the over-allotment. The subscription period for the public offering begins on May 25 and must end on June 1 at 5 p.m. (3 p.m. GMT), and on June 2 at 1 p.m. (11 a.m. GMT) for the global placement, mainly dedicated to institutional investors.
Remember that this IPO should allow PHE to improve its “ financial flexibility to seize the opportunities offered by a structurally growing market ”. The group, which achieved a turnover of 1.8 billion euros in 2020, aims at a target of 1.85 to 1.95 billion euros in 2021. For 2022, the target is set between 2, 05 and 2.15 billion euros.
J2R 25.05.2021