The home parcel delivery specialist deplores "adverse market conditions". On the other hand, Euronext announced the success of the operation of the electricity and gas supplier, the 116th IPO of the year.
Despite the abundance of available liquidity, the IPO market remains selective. After the failures of PHE (Parts Holding Europe) and ekWateur, Colis Privé has just announced the postponement of its IPO project. On Monday, E-Pango completed its operation on Euronext Growth.
In a statement to Reuters, Colis Privé cited unfavourable market conditions and announced that the operation would be postponed in the coming months.
Carrying out the project
"We have had good preliminary contacts with the investors we have met with over the past few weeks and we are confident in our ability to complete this project", the company said.
However, Colis Privé operates in a buoyant market, that of e-commerce, which has benefited from a transformation in consumer habits during the Covid crisis. Amazon is its main customer with 59 % of the total volume of parcels delivered by the Group in 2020, compared to 38 % in 2019.
"In 2020, the e-commerce sector reached 112 billion euros, up 8.5 % by 2019. The e-commerce turnover is expected to reach 154 billion euros in 2025, a growth of 7% per year", the registration document stated.
However, he said that this activity could slow down with the gradual lifting and easing of restrictive measures: "In particular, the attachment of the French to their store chains could lead a certain number of them to return as soon as possible to more traditional modes of purchase in physical points of sale, at the expense of e-merchants"..
The IPO project aims to finance the company's growth, and in particular its international expansion, in particular in Belgium, Luxembourg and Morocco, while all of its sales are currently generated in France.
Electricity and gas supply
On Monday, Euronext announced the successful IPO of E-Pango for 6.1 million euros on the Growth segment in Paris.
E-Pango is a company specialising in the supply of electricity and gas to businesses and local authorities: "The company has developed an original offer based on an individualized approach to customer consumption using proprietary data tools that enable them to better reduce their gas and electricity bills"says Euronext
The market capitalization of the company on the day of the listing was 27.3 million euros.
Philippe Girard, Managing Director of E-Pango, said, " Of course, we intend to go even further in the future, with a strong ambition: to pass the 300 million euro turnover mark by 2025 ", compared to 13.5 million euros in 2020.
This is the 116th transaction carried out on Euronext since the beginning of the year.
On its first day of trading, the stock lost 1.32% to 5.24 euros.