Paris, 20 February 2012– INSIDE Secure, a leading player in the design and supply of semiconductors dedicated to secure transactions, celebrated today its successful listing on NYSE Euronext in Paris.
Founded in 1995 and headquartered in Aix-en-Provence, INSIDE Secure is a major supplier of integrated circuits and embedded software for secure transactions and digital security applications. Using a “fabless” (fabrication-less) business model with no production plants, the group designs, develops and sells a range of solutions for applications that process, store or transfer data in NFC (Near Field Communication) for mobile devices, digital security and secure payments – applications where high security is vital. A pioneer in NFC technology, INSIDE Secure is one of only two integrated-circuit specialists worldwide supplying NFC chips for mobile payment terminals in bulk. The group held nearly 50% of the total market in volume in 2011 (source: IMS), and offers a comprehensive portfolio of advanced solutions to customers that include RIM, Oberthur Technologies and Intel Corporation, with which it signed a strategic 5-year licensing agreement in 2011.
INSIDE Secure (ticker code: INSD) was listed through the admission to trading of 23,173,468 existing shares and 8,313,250 new shares issued under a Global Offering, including full exercise of the extension clause. The Global Offering raised a total of €69 million which could increase to approximately €79.3 million if the Over-allotment option is fully exercised.
The admission and issue price of INSIDE Secure shares was set at €8.30, near high end of the indicative spread. Market capitalisation stood at around €260 million on the day of listing.
“We are especially happy to welcome INSIDE Secure in that this is the largest listing on our European market in two years, in terms of capital raised,”said Marc Lefèvre, Head of European Coverage at NYSE Euronext. “The company was founded with venture capital and its listing both confirms and reinforces a wave of renewed activity on the primary market. It also illustrates NYSE Euronext’s capacity to offer high-tech companies a market model and range of services adapted to their needs and vision.”
“The great success of this listing also testifies to the exchange’s capacity to offer an outstanding solution to the financing needs of SMEs, which drive economic growth and development in their region,” he added.“Our initiatives are paying off and we hope that the recent revival in listings will continue. To that end, NYSE Euronext plans to pursue its efforts to promote and facilitate access to capital markets, and we invite all stakeholders in the market eco-system to join in.”
Rémy de Tonnac, CEOofINSIDE Secure, added:« We are delighted that INSIDE Secure’s IPO has been so successful. The strong demand for our shares illustrates the confidence of investors in our business model, our strategy and the outlook for the growth of INSIDE Secure on its markets. We are one of the pioneers of ‘Near Field Communication’ (NFC) technology which marks a real technological and social breakthrough in the mobile phone world and beyond. Thanks to the support of our shareholders and our unique positioning, INSIDE Secure has all the assets it needs to continue to innovate and to pursue its development on its markets. »
The Global Offering was made up of an Open Price Public Offering in France and a Global Placement with institutional investors in France and other countries.
INSIDE Secure was initially principally financed by investment funds Gimv, Sofinnova, Vertex and FSI as well as well-known industrial partners.