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On June 15, the carve-out IPO of ALD from parent Societe Generale was successfully completed, raising $1.3bn for the bank, in what is the nation’s largest carve-out IPO in 3 years, when Coface was spun off from NATIXIS for $1.3bn in 2014. The deal is also France’s largest IPO since Amundi Group went public in November 2015.

As a trusted financial platform partner, Dealogic helped the bookrunners seamlessly execute the transaction through the DealManager network.

Transaction Details

Issuer: ALD

Nationality: France

Industry: Finance

Deal Value ($m): $1,298

Deal Type: IPO, carve-out from Societe Generale

Bookrunners: Credit Suisse, JPMorgan, SG Corporate & Investment Banking, Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, and HSBC

Key Points

Top 5 French carve-out IPOs on record

  1. Vivendi Environment, $2.3bn | IPO | Carve-out parent: Vivendi | Jul 2000
  2. CFAO, $1.4bn | IPO | Carve-out parent: PPR | Dec 2009
  3. Coface, $1.3bn | IPO | Carve-out parent: NATIXIS | Jun 2014
  4. ALD, $1.3bn | IPO | Carve-out parent: Societe Generale | Jun 2017
  5. Worldline, $870m | IPO | Carve-out parent: Atos | Jun 2014

 3 most recent French IPOs more than $1bn

  1. ALD, $1.3bn | France | Finance | June 2017
  2. Amundi Group, $1.8bn | France | Finance | Nov 2015
  3. Europcar Groupe, $1.0bn | France | Transportation | Jun 2015

Top 3 EMEA IPOs in 2017 YTD

  1. Galenica Sante, $1.9bn | Switzerland | Apr 2017
  2. ALD, $1.3bn | France | Jun 2017
  3. Gestamp Automocion, $935m | Spain | Apr 2017

 

Source: Dealogic as of June 15, 2017

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