ALD shares to start trading at €14.3

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This Thursday, Société Générale successfully launched the initial public offering (IPO) of a stake in its vehicle leasing subsidiary ALD Automotive, announcing a price for both the French Public Offering and the International Offering of €14.3 per share.

With the initial size of the Global Offering (i.e. the French Public Offering plus the International Offering) amounting to just over 80.8 million shares (i.e. 20% of ALD's share capital), that would amount to €1,156 million in capital raised. 

On top of that, if the stabilising manager would exercise the over-allotment option, another 12.1 million shares could be offered for sale, which could bring the capital raised to a total of €1,329 million. 

Based on a total of 404.1 million shares and a price set at €14.3 per share, the total market capitalisation of ALD amounts to approximately €5.78 billion.

ALD shares are expected to start trading on Friday, 16 June on the regulated market of Euronext Paris. The settlement and delivery of the Global Offering is expected to take place on Monday, 19 June. 

With the IPO, ALD aims to gain visibility and reputation in the rapidly-evolving mobility ecosystem – as well as gain access to fresh sources of financing, which will allow the company to accelerate its development and seize new growth opportunities – in both the corporate and B2C mobility markets.
Mike Masterson (pictured), CEO of ALD, was delighted with the success of the IPO, calling it “an important milestone in ALD's history. Our constant focus on operational excellence, innovation and customer service has been instrumental in our success over the years, and I am confident that the visibility gained through the IPO will help the company reinforce its ties with its partners and customers”.

Image: Société Générale

Thursday, June 15, 2017 - 19:15Frank JacobsCar Leasing and RentalEurope
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