Showroomprive.com raises 256 mln eur in IPO

SRP Groupe SA

30/10/2015 10:33

PARIS, Oct 30 (Reuters) - French online fashion retailer 
Showroomprive.com  SRPG.PA  said it raised 256 million euros 
($282 million) in its initial public offering after selling 
shares at the bottom end of the price range it had set. 
    The stock began trading on Friday in the form of "share 
promises", with full trading in the shares due to begin on 
Tuesday, the company said in a statement. 
    By 0956, the share promises were trading at 17.50 euros, 
below the offer price of 19.50 euros. This was set at the bottom 
of the initial price range of 19.50-26.30 euros, giving a market 
value for the whole company of 660 million euros. 
    Founded in 2006, Showroomprive.com sells designer fashion to 
its 20.2 million members at steep discounts in "flash" sales, a 
model pioneered by larger French rival Vente-Privee.com.     
    While the company pressed ahead with its stock market 
listing, French music streaming service Deezer said this week it 
had decided to postpone its 300 million euro IPO due to market 
conditions, saying it would review fundraising options. 
 ID:nFWN12R03S  
    EDF Luminus, controlled by French power company EDF 
 EDF.PA , dropped its planned IPO this week, opting instead for 
a reorganisation of its share ownership structure. 
 ID:nL8N12Q3ZE  
    Europe's biggest asset manager, Amundi, owned by French 
banks Credit Agricole  CAGR.PA  and Societe Generale  SOGN.PA , 
is planning an IPO in mid-November, meanwhile, which analysts 
have said could value it at more than 7 billion euros. 
 ID:nL8N12719I  
    French smartcard maker Oberthur Technologies  IPO-OBER.PA , 
owned by Advent International, also said last week that it hoped 
to raise 500-600 million euros via a capital increase in a Paris 
share listing this year.  ID:nL8N12K11F  
    Showroomprive.com said the amount raised in its IPO could 
rise to 290 million euros if an overallotment option were fully 
exercised. This would also see the free float increase to about 
41 percent from 35 percent. 
    U.S.-listed Chinese online discount retailer Vipshop 
Holdings  VIPS.N  bought shares for 30 million euros, as 
previously outlined. 
    Goldman Sachs  GS.N  and Deutsche Bank  DBKGn.DE  are joint 
global coordinators and joint bookrunners for the IPO. BNP 
Paribas  BNPP.PA  and Societe Generale  SOGN.PA  are joint 
bookrunners. Rothschild & Cie is financial adviser. 
 ($1 = 0.9084 euros) 
 
 (Reporting by James Regan; Editing by Mark Heinrich) 
 ((james.regan@thomsonreuters.com; +33)(0)(1 49 49 53 84; 
Reuters Messaging:  james.regan.thomsonreuters.com@reuters.net)) 
 
Keywords: SHOWROOMPRIVE IPO/