- €1.7 million raised
- Market capitalisation of €11.5 million
- 31st listing on Euronext Paris in 2022
- 72d listing on Euronext in 2022
Euronext today congratulates Cabasse, a French luxury hi-fi audio company, on its listing on Euronext Growth Paris (ticker code: FR001400DIY6).
Created by Georges Cabasse in 1950, Cabasse is a French acoustic specialist that designs and markets hi-fi audio products (connected and passive speakers, home-cinema amplifiers and systems) for music enthusiasts. Cabasse has significantly developed its business model following its acquisition in 2014 by VEOM Group, through numerous patents filed for its acoustic, signal processing and connectivity technologies. The company has entered a period of strong growth, driven by the success of "THE PEARL COLLECTION" since 2018, the largest collection of high-resolution connected active speakers on the market.
The funds raised during the Initial Public Offering (IPO) of Cabasse will allow the company to finance its organic development. The company’s ambition is to become one of the world leaders in the Wireless Audio Products segment of the Luxury Home Audio market. The company is further pursuing its growth objectives relying on its "Made in France" production facility located in Brest, and an industrial base in Asia (Singapore).
Cabasse was listed through an exceptional distribution of 50.1% of the shares coming from the distribution of Cabasse’s equity to the shareholders of its parent company VEOM GROUP, at the rate of one share of Cabasse against five shares of VEOM GROUP. The 1,028,500 Cabasse shares composing its Capital were admitted to trading on Euronext Growth Paris on 1 December 2022.
An oversuscribed capital increase operation also took place between the 17 November 2022 and the 1 December 2022, with a reference price set at €9.42 per share. This resulted in the issue of 183,121 new shares including the full exercise of the extension, representing a capital increase of €1.7 million.
Alain Molinié, CEO of Cabasse, said: “Just over 70 years after the birth of Cabasse, the iconic French acoustic engineering brand, and 8 years after its acquisition by VEOM Group, we are proud to announce the successful listing of the first luxury hi-fi audio company on Euronext markets. We thank the institutional investors and the almost 2,000 individual investors for their trust. This fundraising aims to position Cabasse as one of the world leaders in the Wireless segment of the luxury home audio market, by further expanding the widest collection of luxury and high-resolution connected audio products and strengthening our position in the international market.”
