Paris –21 October 2014 – EnterNext, the Euronext subsidiary designed to promote and grow the market for SMEs[1], today congratulated Safti Groupe, a network of independent real-estate advisers present nationwide, on its listing on Alternext in Paris (ticker code: ALSFT).
Safti is a network of 600 independent real-estate advisers working from virtual premises over the internet and present throughout France. From home offices, these advisers handle all aspects of clients’ property transactions, from initial sign-on through signature of deeds at the notary’s office. They offer clients nationwide reach, making extensive use of property listings on the Internet. Safti is on average 30% less expensive than traditional real-estate agencies offering similar services.
Safti was listed through the admission to trading of the 900,000 shares making up its equity following its transfer from the Free Market to Alternext, as well as 240,000 new shares issued in a Global Offering.2
The admission and issue price of Safti shares was set at €10.80 per share. Market capitalisation was around €12.31 million on the day of listing, and the transaction raised a total of €2.59 million.
Gabriel Pacheco, Chairman and CEO of Safti, said: “Despite particularly tough market conditions, we are very happy that this project has come to fruition. It represents a major step in accelerating Safti’s profitable growth. Funds raised will allow us to boost Safti’s visibility through a sweeping nationwide advertising campaign and thus pursue our strong growth while strengthening Safti’s leadership of the virtual real-estate agency market.”
Eric Forest, Chairman and CEO of EnterNext, said “EnterNext is delighted to welcome Safti, an innovative real-estate network, as it makes its debut on Alternext. Stockmarket listing allows fast-growing companies like Safti to raise the funds they need to step up their growth. This transaction also confirms the broad range of sectors represented on our markets.”