The real estate agency created in 2019 is carrying out a listing by technical admission on the non-regulated Euronext Access Plus compartment. This listing is part of the communication strategy of the young startup.
A real estate start-up has a communication campaign on the Paris Stock Exchange.
Although Les Agences de Papa is indeed making its entry on Euronext, the financial interest of the operation is secondary. It is a simple listing by technical admission on Euronext Access Plus, i.e. the listing of existing shares without raising funds as in a traditional IPO and without issuing a prospectus.
Getting used to the stock market
Euronext Access, formerly known as the "Marché Libre", and its offshoot, Euronext Access Plus, are unregulated markets. They allow SMEs to get used to the way the stock market works before going further. And thelisted companies are only subject to the obligations set out in the Code du commerce.
On the other hand, the operation already seems to be bearing fruit in terms of visibility for the agency's commercial development.
Les Agences de Papa are indeed leveraging this listing to send their ambitious message of "revolutionizing the real estate market":"Created in October 2019 in Nice, les Agences de Papa is an independent digital real estate network whose ambition is to offer the greatest number of people simplified access to property through a personalized, entirely digitalized path, associated with fixed agency fees of 2,000 euros, regardless of the price of the transaction".
The traditional model of the profession is based on commissions of approximately 5% of the transaction amount.
Brand awareness
"Les Agences de Papa go public to increase brand awareness, accelerate business acquisition and expand the brand's reach nationwide", summarizes the company in its release.
A film produced jointly with Euronext completes the system, which includes the ringing of the bell, a bit like on Wall Street: "We are proud to welcome the first Proptech to our markets and to support Les Agences de Papa in its development journey."Camille Leca, director of listing operations for France, Portugal and Spain on the pan-European exchange, comments.
Les Agences de Papa, which already employs nearly 100 people, strengthened its financial position last month with a fundraising of nearly €2.5 million.
Possible transfer to Euronext Growth
Through this first step, the co-founders Nicolas Fratini and Frédéric Ibanez wish to become familiar with the best market practices in terms of financial communication, governance and investor relations. Eventually, however, they hope to transfer their listing to Euronext Growth (formerly Alternext, also a non-regulated compartment), in order to access a new base of individual and institutional investors.
"We are therefore only at the beginning of a great adventure made possible by the confidence of our shareholders, the commitment of our partners and above all the talent of our teams! "Nicolas Fratini and Fréderic Ibanez are delighted.
Communication is at the heart of the start-up's strategy, with major investments in viral marketing campaigns through the Internet and social networks (Facebook, Twitter, Linkedin, Instagram), advertising in the major TV and radio media, and press relations.
"Ss project and its original positioning, the famous French judo champion, Teddy Riner, has agreed to be the ambassador of Les Agences de Papa. His popularity contributes to the growing awareness of the brand, with more than 11,000 followers on social networks to date", also explain les Agences de Papa.