France's Fill Up Media slips in market debut
29/06/2022 08:44
** Shares in Fill Up Media ALFUM.PA fall to 9.20 euros
each on their first day of trading in Paris, slipping below the
digital advertising group's 10-euro IPO price by 8%
** The IPO price would have given a market value of around
28 mln euros ($30 mln) on Euronext Growth, which is available to
small and mid-sized companies
** The ten-year-old company, which raised 8.1 mln euros in
its public offering last week, makes screens used to display ads
and information on French gas pumps
** Asset manager Vatel invested close to 18% of the capital,
while LFK, AMDG and the start-up branch of Credit Agricole
CAGR.PA also bought up minority stakes
** Fill Up's founders retained just under 35% of the capital
post-IPO, and just over half in concert with the Lavorel family,
who own luxury hotels
** The group, which estimates its 4,000 screens reach 4
million drivers each week, reported revenues of 6.8 million
euros for 2021
($1 = 0.9476 euros)
(Reporting by Sarah Morland, Dina Kartit)
((dina.kartit@thomsonreuters.com ;
sarah.morland@thomsonreuters.com))