The FINANCIAL -- Euronext on November 12 congratulated Amundi on its successfully listing on Compartment A of its regulated market in Paris. It was the year’s largest IPO by an asset management company in Europe, and the Paris Stock Exchange's largest listing since 2005. To celebrate, Amundi rang the bell that opened trading this morning.
With assets under management totalling €952 billion at 30 September 2015, Amundi is the European leading asset management company and ranks among the world’s top ten in the field. Present in 30 countries across five continents, the group has developed a unique business model based on two business lines, delivering savings solutions to retail customers and investment solutions to institutional clients. Amundi is thus the provider for almost 100 million retail clients through its networks of partners and third-party distributors and more than 1,000 institutional and corporate clients, according to Euronext.
Amundi (ticker code: AMUN) has been listed following the admission to trading of 166,791,680existing shares of the company's share capital, through a Global Offering involving 33,358,336 existing shares sold by Société Générale, plus, should the over-allocation option be exercised in full, a maximum of 5,003,750 existing shares sold by Crédit Agricole SA.
The Global Offering price was set at €45.00 per share. The Global Offering represents a total amount of approximately €1,501 million, which may be brought to approximately €1,726 million in the event the over-allotment option is exercised in full. Amundi's market capitalisation was around €7.5 billion on the day of listing.
Yves Perrier, CEO of Amundi, said: “The success of Amundi’s initial public offering proves the success of its business strategy since it has been created in 2010. This profitable growth strategy will be pursued to the benefit of its clients, its employees and its shareholders.”
Anthony Attia, CEO of Euronext Paris, said: “The Paris Stock Exchange is very proud of this IPO performed by Amundi, Europe's top asset management company. Amundi's listing confirms our market’s position as a major hub used by large international companies to raise the financing they need. This successful IPO shows that investors are prepared to step up and provide the capital that growing companies need.”