Amundi launches IPO
French manager Amundi has today announced the launch of its initial public offering on Euronext in Paris.
The price range that is being applied to the French retail offering and the international offering is comprised between €42.00 and €52.50 per share.
Some 33,358,336 shares are being sold by Societe Generale, representing on the lower end of the price range gross proceeds of approximately €1.4bn without exercising the over-allotment option of a maximum of 5,003,750 additional transferred shares by Crédit Agricole , and to €1.6bn if the over-allotment option is fully exercised.
On the basis of a price equal to the upper end of the indicative price range (52.50 euros), Amundi said the amount of the gross proceeds of the sale of shares transferred should reach around €1.75bn, without exercising the over-allotment option, and €2bn in the event the over-allotment option is exercised in full.
Also 2% of the Amundi’s share capital will be sold by Credit Agricole to the Agricultural Bank of China in order to strengthen a joint venture which was launched in 2008.
The French retail offering will close on 10 November 2015 at 5:00 pm (Paris time) for orders at the counter and for online subscriptions while the international offering’s closure is scheduled on 11 November 2015 at 1:00 pm(Paris time). The pricing for the global offering is scheduled on 11 November 2015.
The settlement and delivery of the French retail offering and the international offering is scheduled on 13 November 2015.
The start of the trading of Amundi shares on Euronext in Paris is expected to take place on 16 November 2015.