The electronic cigarette specialist increases its capital by about 3 million euros and transfers its shares listed on Euronext Access two years ago.
This is an example that will undoubtedly be followed by Les Agences de Papa, which is entering Euronext Access Plus by technical admission. After having passed this preliminary stage two years ago, Kumulus Vape is now taking a step forward by accessing Euronext Growth.
Euronext Access and Euronext Access Plus generally enable young SMEs to familiarise themselves with the stock market before entering the big time. When it comes to raising funds and increasing capital, the Euronext Growth segment, the anteroom of the regulated market, can take over to broaden the base of professional and private investors.
Created in 2012, the issuer is therefore announcing today its initial public offering with its transfer from Euronext Access to Euronext Growth in Paris.
Kumulus Vape is an e-merchant specializing in the sale of electronic cigarettes and related products (equipment, e-liquids and accessories).
Two business lines
Kumulus Vape's activity is based on two main business lines. The company sells its products through its online platform kumulusvape.fr. KMLS PRO is the distribution platform for professionals (networks of several sales outlets, independent shops or wholesalers) in the industry.
On the occasion of this IPO, Kumulus Vape is launching a capital increase of approximately €3 million, at a price of €9.50. This capital increase may be increased to approximately €3.45 million if the extension clause is exercised.
The subscription period will end on 26 May 2021 for a resumption of trading on Euronext Growth on 1 June.
The company intends to finance external growth operations for 80% of the funds raised and to deploy new marketing and commercial efforts for the remaining 20%.
6.5-fold increase in operating income
" In a few years, we have risen to the top ranks of French players in the vape industry. This success is illustrated in our financial performance. Between 2016 and 2020, our average annual growth exceeded 100%. In 2020, the growth will have been 113% with a turnover of more than €22M and an operating profit multiplied by 6.5 to more than €1.3M. On the strength of these achievements, it was time for us to turn a new page in our stock market history. Our IPO is perfectly in line with this dynamic", explains Remi Baert, president and founder of Kumulus Vape.
Rémi Baert holds 43.67% of the shares and 49.46% of the voting rights. He effectively controls the company. The other shareholders are Astrid Menut who holds 10.28 % of the voting rights, Rokh Vision, a limited liability company owned by Amaury Dupouey (director) with 26.85 % and a free float which amounts to 13.41 %
The company employs 52 people and was ranked 26th in Les Echos' Top 500 Champions of Growth.