JCDecaux To Fund Growth With IPO On French Stock Market

Outdoor company JCDecaux has announced its intention to float on the French stock market next month, in order to fund future growth and acquisitions. The share offering is expected to value the company at €3.8 – €4.4bn (£2.3 – 2.6bn).

The proceeds from the IPO, in which 20-22% of JCDecaux’s enlarged share capital will be offered, are to be put towards the provision of “greater financial flexibility” to support organic growth, the funding of acquisitions and the payment of a portion of existing debt. The listing will also allow the company to provide a stock option scheme as an incentive for most of its staff worldwide.

The listing, which will be sought in June, will be on France’s main stock market, Euronext Paris.

JCDecaux: 0207 298 8000 www.jcdecaux.com

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