Coface SA

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Name: Coface SA
Market: Euronext Paris
Capitalization compartment: Compartment A
Subsector: Property&Casualty Insurance
Isin code: FR0010667147
Symbol: COFACE


IPO Date: 27/06/2014
Issue type: Initial Public offering
IPO Price: EUR 10.40
Price range: EUR 9.60 - EUR 11.20

Company Profile

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Date Title
27 Jun 2014 Euronext congratulates Coface on its successful listing in Paris expand

- €832 million placed; market capitalisation of €1.63 billion -

Paris – 27 June 2014 – Euronext today congratulated Coface, one of the world’s leading trade credit insurance companies, on listing in Compartment A of its regulated market in Paris (ticker code: COFA).

Ranked third worldwide in trade credit insurance, Coface has been assessing and preventing credit risks and protecting companies from the risk of default by clients for nearly 70 years. Its expertise is based on its unique knowledge of companies’ payment behaviour and on the expertise of its 350 underwriters located close to clients and their debtors. Present directly or indirectly in 97 countries and supported by its 4,440 employees, Coface secures the transactions of over 37,000 companies in more than 200 countries.

Coface was listed through the admission to trading of the 156,841,307 shares making up its equity including 79,989,067 existing shares sold by Natixis under a Global Offering[1] before potential exercise of the over-allotment option.

The admission and issue price of Coface shares was set at €10.40per share. Market capitalisation was €1.63 billion on the day of listing. The placement totalled €832million.

Anthony Attia, Chairman and CEO of Euronext Paris, said “We are delighted with the successful listing of Coface, a world leader in a rapidly expanding field of business, on our regulated market in Paris. By putting their trust in Euronext, Coface has confirmed our role as a benchmark for international companies, thanks to out unparalleled visibility and outstanding access to a large community of investors.”

Marc Lefèvre, Euronext’s Head of Business Development and Client Coverage, Listings, noted “We are very happy to welcome Coface back to listing on Euronext. This is an historic and particularly promising day, with three major listings on two of our markets—Paris and Amsterdam[2]—illustrating our commitment to being a major financial centre in Europe.”

Coface CEO Jean-Marc Pillu said:“During the IPO, we received a warm welcome from investors, who were particularly receptive to us, both in France and abroad. This makes us proud of the work of our teams around the world to build a solid group, which is profitable and has confirmed growth prospects. The IPO is a positive development for the Coface Group. Thanks to the diversity of our shareholding structure, which reflects the multinational dimension of Coface, we can continue to grow, innovate and offer credit insurance solutions that meet the needs of our customers worldwide.”

To celebrate, Coface rang the opening bell for trading on financial markets, accompanied by its advisers and Euronext staff.

[1]The Global Offering was made up of a Public Offering that included an Open Price Public Offering and a Global Placement with institutional investors in France and other countries.
[2]Worldline (placing €575 million) on Euronext Paris and IMCD (placing €462 million) on Euronext Amsterdam.

27 Jun 2014 Euronext welcomes Coface on Euronext's market in Paris expand

Jean-Marc Pillu, CEO of Coface, opens the European trading day in Paris.

Coface is one of the world’s leaders in credit insurance. The group provides solutions to companies designed to protect them, in the frame of the management of their trade debtors, against financial default risks from of their debtors, both on the local and export markets. Net sales break down by activity as follows:

  • loan insurance (74.3%);
  • services (16.9%): services related to loan insurance, corporate information (solvability and marketing information), debt management, management of public procedures for the account and with state guarantees, etc.;
  • factoring services (4.8%): insured in Germany and Poland;
  • surety insurance (4%).

Net sales break down geographically as follows: Western Europe (32.6%), Northern Europe (25.5%), the Mediterranean and Africa (15.1%), Central Europe (7.6%), North America (7.1%), Asia/Pacific (6.6%) and Latin America (5.5%).