Stif announced on Friday evening that the offer for its initial public offering had been 1.7 times oversubscribed, representing a total expressed demand of 15.3 million euros.

The bulk transport specialist stated that the total gross proceeds of the issue would ultimately amount to 10.35 million euros, of which nine million via a capital increase.

The remaining amount will correspond to the issue of 1.4 million new shares through the full exercise of the extension clause, with the sale of 207.692 existing shares by the selling shareholders.

At the end of the operation, Stif's share capital will consist of just over five million shares, representing a market capitalization of 33 million euros based on an IPO price of 6.50 euros per share.

The free float will represent 31.3% of the company's capital.

The manufacturer of explosion protection equipment for industrial environments specifies that trading of its shares will start on Euronext Growth Paris on Wednesday December 20.

Copyright (c) 2023 CercleFinance.com. All rights reserved.