=+Description of the Maisons du Monde IPO on Euronext Paris in May 2016: price bracket: between 16.50
Question:
=+Description of the Maisons du Monde IPO on Euronext Paris in May 2016:
price bracket: between €16.50 and €25.22 per share;
size of the offering: 9 969 969 new shares and 10 000 000 existing shares transferred by Bain and the founder (i.e.
29% of their shares);
amount of the offering: between €325m and €438m on the basis of the price bracket;
greenshoe option on a maximum of 3 257 576 existing shares;
free float of around 50% post-IPO.
2014 2015 2016(e)
605 699 800 to 815 73 95 104 to 110 51 69
−68 −71 11 −12
−6 −14 Cash flow statement 2013 2014 Cash flow from operating activities (1) 35 13 Cash flow from investing activities (2) −191 −30
− Dividends 0 0
= Decrease (increase) in net debt −156 −17 Balance sheet 2013 2014 2015 Fixed assets (1) 703 703 722 Working capital (2) 17 37 6 Capital employed = (1) + (2) 720 740 728 Shareholders’ equity (3) 113 116 92 Net debt (4) 607 624 636 Invested capital = (3) + (4) 720 740 728 Dividend policy 2013 2014 2015 2016e Net earnings, group share (€m) −16 −6 −14 Earnings per share (EPS in €) −0.43 −0.11 −0.25 Dividend per share (€) 0 0 0 Payout ratio 0% 0% 0% 30 to 40%
The pro forma accounts factor in the transformation of shareholder loans into shares before the IPO.
Step by Step Answer:
Corporate Finance Theory And Practice
ISBN: 9781119424482
5th Edition
Authors: Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann Le Fur, Antonio Salvi