CFAO, a leader in automobile and pharmacy distribution in Africa and French Overseas Territories (Collectivités Territoriales Françaises d’Outre-mer), today celebrates its listing on NYSE Euronext’s Paris market under the symbol “CFAO”.
A total of 61,524,360 CFAO shares were admitted to trading on NYSE Euronext at an introductory price of EUR 26 each. The listing resulted from the offer of 31.000.000 existing shares, before exercise of the over-allotment option. The amount raised by the initial public offering was EUR 806 million, excluding the over-allotment option, making this the second largest IPO in Western Europe in 18 months after Delta Lloyd listed in November 2009 on NYSE Euronext’s Amsterdam market. CFAO’s market capitalization amounts to EUR 1,6 billion.
“We are delighted to welcome CFAO, a leader in automobile and pharmacy distribution in Africa and French Overseas Territories on to NYSE Euronext” commented Jean-François Théodore, Deputy Chief Executive Officer of NYSE Euronext. “This benchmark listing, the second largest in Western Europe in 18 months in terms of the amount raised, hopefully signals a lasting rebound in the primary market.”
Ronald Kent, Executive Vice President and Head of International Listings at NYSE Euronext, added “We are very happy to welcome CFAO to our market. This is the beginning of a lasting relationship that will give the company the benefit of the highest levels of service, liquidity and transparency available through NYSE Euronext.”
“CFAO is delighted with the success of its IPO and is very pleased to be listed on NYSE Euronext” said Richard Bielle, Chairman of CFAO’s Management Board. “CFAO is a unique vehicle to invest in Africa’s growth potential. For CFAO, being listed is both a way to connect with its past history, as the group was listed for over 100 years, and to start a new phase in its development that opens up new opportunities to pursue its growth strategy. ”
