Raises €20.7 million, market capitalisation totals €110.7 million
Paris – 11 October 2016– EnterNext today welcomed ABEO, specialist in sports and leisure equipment, in CompartmentC of Euronext’s regulated market in Paris.
ABEO is a leading global specialist in sports and leisure equipment. Its portfolio of brands include Gymnova, Janssen-Fritsen, Spieth, Entre-Prises, Clip’nClimb which are all under the control of ABEO, a strong company with continous growth, having overseen nearly €150 M worth of business as of 31 March 2016, 66% of which was conducted internationally. Abeo is dedicated to doubling its business by 2020, and is looking to expand internationally through a means of both organic and external growth.
ABEO (ticker symbol: ABEO) was listed through the admission to trading of 6,571,649 shares, including 1,226,665 new shares issued under a Global Offering, after the full exercice of the extension clause and before the exercice of the over-allotment option.
The admission price and issue price of Abeo was set at €16.84 per share. Market capitalisation on the day of listing was around €110.7 million, and the IPO raised a total of €20.7 million.
Olivier Estèves, ABEO's Chief Executive Officer, and Jacques Janssen, Managing Director, made the following comments: “We are delighted to announce the success of our initial public offering. The interest shown by French and international investors proves the merits of our unique positioning in the sports and leisure equipment industry, and reflects the trust placed in our growth strategy. This success also makes us particularly proud of the work completed by our teams in building a solidand profitableGroup worthy of its leadership aspirations. The funds raised will give us the financial means to step up our international expansion. We would like to thank our new individual and institutional shareholders who have placed their trust in our corporate manifesto. We would also like to thank all of our partners and employees for their commitment and contributions towards ensuring the success of this new milestone for ABEO.”