Vincent Omer-Decugis, CEO and heir to the family business, retains just over 62 % of the shares following a successful IPO. The capital is increased by about 20 million euros to finance the growth of the fruit and vegetable specialist.
Omer-Decugis has successfully completed its initial public offering on Euronext Growth. Founded in 1850, the fruit and vegetable distributor is opening up its capital for the first time, which until now has been held by Vincent Omer-Decugis, CEO and heir to the family business that has been in operation for six generations.
"We are very pleased with the enthusiastic reception given to Omer-Decugis & Cie and the success of our IPO which marks a new stage in the Group's development.he commented.
The company has set itself the goal ofgoal of doubling its sales 230 million by 2025.
Price at the top of the range
The company's capital has been increased by €18.3 million after the extension clause has been fully exercised. The total amount of the transaction may be increased to 21 million euros if the over-allotment option is fully exercised.
The issuer benefited from the enthusiasm of investors, with demand more than twice as high as the offer. The share price was set at 7.5 euros, at the top of the proposed range.
"Overall demand amounted to 4,635,196 shares, of which 79.3% for the Global Offering and 20.7% for the Open Price Offer, i.e. an overall oversubscription rate of 2.2 times the number of shares offered (i.e. demand of €27.6 million for institutional investors and €7.2 million for individuals) ", says Omer-Decugis.
Before the first listing, which will take place this Friday, the market capitalization will reach 63.3 million euros.
CEO remains majority shareholder
At the end of the operation, Vincent Omer-Decugis will hold a little more than 62 % of the shares, directly or via the company Lescot.
"The funds raised and the day-to-day commitment of all our employees will enable us to accelerate our strategy of balanced growth, combining economic performance, sustainable agriculture and social and environmental responsibility"added the CEO.
Based in Rungis in the Paris region, the group markets fruit and vegetables, mainly from Latin America, Africa and Europe, in all distribution networks (supermarkets and hypermarkets, out-of-home catering, specialised distribution and fresh cuts).
For the IPO, the issuer was accompanied by Allegra Finance as listing sponsor, Gilbert Dupont as ISP (Investment Service Provider) and the law firm Fieldfisher for the legal aspects.