Paris, 23 October 2013– Montagne et Neige Développement (MND), architect of innovative solutions for mountain infrastructure and urban mobility, today celebrated its successful listing on compartment C of NYSE Euronext’s regulated market in Paris.
Present in 49 countries, MND has four production sites in Europe, including two in the French Alps, and is a major international player in developing, equipping and ensuring the safety of ski areas, leisure areas, access roads and other types of mountain infrastructure. With 264 employees, MND has grown its business by focusing on two areas: Safety & Leisure and Snowmaking & Skilifts, and is a world leader in several of its specialities. Today the group is developing CABLINE, a unique cable-based transport solution that meets all of the challenges of urban mobility.
MND (ticker code: MND) was listed through the admission to trading of 5,088,296 existing shares and 3,480,262 new shares issued under a Global Offering, including full exercise of the extension clause and greenshoe option. The Global Placement was oversubscribed more than 1.8 times by a large number of French and international investors. The Open Price Offer was oversubscribed 4.1 times. The total amount raised was around €21.2 million.
The admission and issue price of MND shares was set at €6.08. Market capitalisation based on the amount of shares admitted to trading on NYSE Euronext stood at around €52.1 million on the day of listing.
“We welcome MND to our European market,” said Eric Forest, Chairman and CEO of EnterNext. “And we are delighted that listing can give the group the boost it needs to expand further and develop new expertise. MND will now benefit from the solutions offered by EnterNext, a benchmark partner for small and medium-size enterprises, giving optimum visibility with investors and allowing it to extend its reach in France and worldwide.”
Xavier Gallot-Lavallée, CEO and founder of MND, added: “I would like to thank the institutional and individual shareholders who have joined us, as well as all of the staff and partners who contributed to our successful listing. We will be doing everything we can to ensure that our stockmarket performance lives up to the confidence they have shown us today.”
To celebrate the listing, Xavier Gallot-Lavallée rang the Opening Bell for NYSE Euronext’s European market. He was accompanied by MND’s management team, advisors, and financial and legal affairs partners, along with teams from NYSE Euronext and EnterNext.
The Global Offering was made up of an Open Price Offer and a Global Placement with institutional investors in France and other countries.