2020, a dark year for IPOs in France

Posted on Dec. 2020 at 11:06Updated 29 Dec. 2020 at 13:32

At the beginning of December, in less than a week, on Euronext Paris, the Niel-Zouari-Pigasse trio raised 300 million euros via a dedicated structure – a SPAC (“Special Purpose Acquisition Company”), called 2MX Organic, intended for acquire a company in durable consumer goods. A small feat in markets that had barely recovered from the “corona crash” and the turbulence of recent months, but which eclipsed the lackluster figures. Because this SPAC, which is currently an empty shell, is the biggest introduction to Paris of the year.

2020 stands out as the worst vintage in terms of quotations since 2012. Only 21 companies have taken their first steps on the Paris Stock Exchange against 19 withdrawals (including Lafuma, Mediawan, Le Bélier, April, etc.). They raised almost 500 million euros, against 2.8 billion euros in 2019. After the SPAC, it is Nacon, the Bigben games subsidiary which raised the most money, ie 117 million euros. The rest of the listings took place on Euronext Growth and Euronext Access, markets dedicated to SMEs and start-ups.

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