Tikehau Capital launches €610m share capital increase

French financial group Tikehau Capital, which has just acquired crowdlending platform for  small businesses financing Credit.fr for €12m, has launched a share capital increase – with preferential subscription rights to existing shareholders – for a gross amount of €610m.

It is understood the amount of rights issued may rise to €700m if the extension clause is fully exercised.

The share capital increase aims to financing Tikehau Capital’s next phase of development and speeding up its growth.

The company’s business development strategy relies on three pillars:

• Invest in funds and strategies that it intends to launch: the group is preparing to launch new funds in 2017 in three of its business lines: private debt (in particular direct lending (Tikehau Direct Lending IV) and debt securitization (CLO III)), real estate and private equity;

• Finance its growth operations, to develop new and existing strategies and to consolidate and expand its operations;

• Seize opportunities for external growth in several strategies in France and abroad.

Tikehau Capital has received subscription commitments from some current shareholders and other institutional investors among which remain the Fonds Stratégique de Participations, MACSF épargne retraite, MACIF, AXA Investment Managers, Crédit Mutuel Arkéa and Amundi Ventures.

The subscription price for the new shares has been set at 22 euros per share (nominal value of 12 euros and issue premium of 10 euros).

The set price represents a discount of 4.52% to the theoretical value of the ex-right share price and of 6.18% to the closing price (23.45 euros) on 28 June 2017.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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