Paris, April 13, 2023 – Jeantet advised Florentaise, a pioneer in the manufacture of low-carbon and eco-innovative potting soils and growing media, on its initial public offering on Euronext Growth Paris for a gross amount of €17.9 million, resulting in a market capitalization of €77.9 million.
Florentaise is a French company that designs, manufactures and markets a complete range of potting soils, soil improvers and mulches for both professional and private customers. Florentaise has become a pioneer in low-carbon potting soils thanks to patented innovations that allow it to replace peat in growing media for equivalent agronomic performance.
In the context of this IPO, a total of 1,891,893 new Florentaise shares were subscribed at an issuance price of EUR 9.44 per share, representing a total gross amount of €17.9 million.
On this basis, Florentaise’s market capitalisation amounts to €77.9 million.
The settlement and delivery of the new shares issued in the framework of this public offering took place on April 11, 2023 and all Florentaise shares have been listed on the Euronext Growth Paris market since April 12, 2023 (ISIN FR001400GO75 / mnemonic ALFLO).
Despite particularly difficult market conditions, this transaction constitutes the second IPO of the year on the Paris stock exchange, and the first one for a total gross amount exceeding €10 million.
Portzamparc (Groupe BNP Paribas) and Gilbert Dupont (Groupe Société Générale) acted as global coordinators, lead managers and joint bookrunners.