Florentaise lists on Euronext Growth Paris

Back

  • €18 million raised
  • Market capitalisation of €78 million
  • 13th listing on Euronext in 2023
  • Alumni of Euronext's FamilyShare programme

 Paris – 13 April 2023 – Euronext today congratulates Florentaise, French leader in low-carbon soils, on its listing on Euronext Growth Paris (ticker code: ALFLO).

Founded in 1973, Florentaise is France's leader and pioneer in low-carbon soils and eco-innovative growing mediums. Florentaise has more than 600 own-brand and private-label products available at major retailers (Truffaut, Botanic, Système U, Lidl). The company sells close to one in five bags of all bags of potting soil that are sold to end consumers in France and serves 12% of the professional market. Florentaise's products have also been selected for major urban projects such as the Olympic Village for the 2024 Olympic Games, the Louis Vuitton Foundation, the Forum des Halles in Paris and the City of Angers. The Group markets patented wood fibres Hortifibre® and Turbofibre® which allow users to avoid the use of peat, present in traditional potting soils and resulting in 20 to 50 times reduced greenhouse gas emissions.

The IPO of Florentaise on Euronext Growth Paris aims to allow the company to pursue its development strategy centred around its original business model of direct sales for potting soils in France and China and leasing Florentaise's production facilities to other potting soil makers in Europe and North America. This model, which combines rental income and maintenance costs, has already led to the commercialisation of seven machines to leading potting soil makers in the UK and the Netherlands. The Group intends to strengthen its footprint in China with the installation of three new production units planned by 2025, with a growth rate of over 85% per year since 2020 in this country.

Florentaise was listed through the admission to trading on 12 April 2023 of 8,248,693 ordinary shares making up its equity and of 1,891,893 new shares issued under a Global Offering[1].

The admission and issue price of Florentaise shares was set at €9.44 per share. Market capitalisation was approximately €78 million on the day of listing. The IPO raised €18 million altogether.

Jean-Pascal Chupin, CEO of Florentaise, said: “We are very proud to begin today, with this IPO, a new chapter in the history of Florentaise. While we have accelerated our business significantly over the last few years, we are constructing our development with a long-term vision and ambition to provide efficient solutions with the greatest positive impact for the planet. Our teams are strongly committed to continue the pursuit of growth and innovation, and this is also the project we wish to convey to the shareholders who are joining us.”

Florentaise - bell_ceremony

Caption: Jean-Pascal Chupin, CEO of Florentaise, and Chloé Chupin, Executive Vice President France and CSR, rang the bell during a ceremony this morning, with their teams and in the presence of Frédéric Boiffin, Director Listing, Grand Ouest – Arc Atlantique region (France) at Euronext, to celebrate the IPO of Florentaise.

 

CONTACT EURONEXTmediateam@euronext.com

Sarah Mound (Paris)

+33 1 70 48 24 45

smound@euronext.com

CONTACT FLORENTAISE

Benjamin Lehari

+33 1 56 88  11 25

blehari@actifin.fr

       

 

About Florentaise

Founded in 1973, Florentaise employs 245 people and had a pro forma turnover of €57.5 million on 30 June 2022. Today, it has more than 600 own-brand and private label products available in major retailers such as Truffaut, Botanic, Aldi, LIDL and Intermarché. This enables Florentaise to sell nearly one in five bags of potting soil to the general public in France and to cover 12% of the professional market. Florentaise is a pioneer in low-carbon potting soils through its patented wood fibres Hortifibre® (since 2000) and Turbofibre® (as of 2015). These are effective substitutes for peat which reduce greenhouse gas emissions by 20 to 50 times over the entire life cycle of the product.

 

For more information on the company: www.florentaise.com

[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.

Press Release Footer

About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With nearly 1,900 listed issuers and around €6.6 trillion in market capitalisation as of end December 2023, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
For the latest news, follow us on Twitter (twitter.com/euronext) and LinkedIn (linkedin.com/euronext).

Disclaimer
This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at www.euronext.com/terms-use.

© 2024, Euronext N.V. - All rights reserved.