JC Decaux To Fund Growth With IPO On French Stock Market
Outdoor company JC Decaux 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 between €3.8 and €4.4 billion (£2.3 – £2.6 billion).
Proceeds from the IPO, in which 20-22% of JC Decaux’s enlarged share capital will be offered, are to be put towards the provision of “greater financial flexibility” to support organic growth, acquisitions and repayment of debt. The listing will also allow the company to provide a stock option scheme as an incentive for most of its staff worldwide.
JC Decaux will trade France’s main stock market, Euronext Paris, sometime in June.
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