Belgian holding specialising in cocoa production valued at € 31.6 million
Brussels, Paris – 27 October 2015– EnterNext today welcomed KKO International on the Alternext markets in Brussels and Paris. This is a new example of company making use of EnterNext’s initiative designed to simplify smaller-sized companies’ access to capital and a broader investor base. KKO International is currently the only company benefitting from a dual listing on Alternext and is the first food producer to do an IPO on the European markets in 2015.
Founded in 2011, KKO International is a Belgium-based holding company, owner of Solea, a logistics and farming company. Solea specialises in the plantation of cocoa trees and in the farming and harvesting of cocoa beans in the Bocanda region in Ivory Coast. The proceeds of the IPO will allow KKO International to secure rights to possess and cultivate additional parcels, to invest in staff and equipment and to strengthen structural investments in its plantation.
KKO International (ticker code: ALKKO) raised € 6.54 million in new capital at a final offer price of €3.26 per share. With a total of 9,706,577 shares, the company has an initial market capitalisation of EUR 31.6 million.
Jacques-Antoine de Geffrier, Chairman of KKO International, declared: “KKO International would like to thank all those who have expressed their trust by subscribing to our IPO. With their support, KKO International is now totally debt-free and well-equipped to pursue and secure its development. Our main objective is to have 3,000 hectares planted and irrigated. We also thank all our partners for their valuable contribution and, of course, Euronext and Alternext for their hospitality and support.”
“It doesn’t happen often that a plantation company goes public, so we are particularly happy to welcome KKO International to our Alternext markets,” said Vincent Van Dessel, CEO of Euronext Brussels. “We are confident that this IPO will allow the holding to boost the visibility of its original project towards international institutional and retail investors.”
Alain Baetens, Head of Listing of Euronext Brussels, added: “EnterNext is delighted to partner with KKO International as it enters in a new phase of its development and now benefits from strong complementary financing options offered by Alternext, through a simplified, cost-effective and tailor-made listing process. The unique offering of multiple listing venues across our markets will help KKO International to create optimal conditions to enhance its liquidity as public traded stock. It joins a community of over 190 companies listed on Alternext, totaling € 9.5 billion market cap, as well as an investor reach across 20 countries worldwide.”
To celebrate the listing, Jacques-Antoine de Geffrier, Chairman of KKO International, rang the bell in Brussels to open trading.
Source Euronext/Bloomberg, 26 October 2015.