Natixis successfully sells 51% of the capital of Coface on the Paris Euronext regulated market, raising about €831.8 million

Paris, France, June 26, 2014

After the IPO launched on June 16, 2014, Natixis sold close to 80 million Coface shares at €10.40 per share for a total amount of €831.8 million, thus valuing Coface at approximately €1.631 billion.

Natixis will still hold 49% of Coface shares or 41.35% if it exercises in full its greenshoe option, or over-allotment option, which concerns 15% of the offer, and before the results of the capital increase reserved for Coface employees (maximum 1%).

This operation is a major step in the implementation of New Frontier. It illustrates our policy for dynamic asset allocation to the core businesses of Natixis.

Laurent Mignon, CEO of Natixis, will remain Chairman of the Board of Directors of Coface.

Laurent Mignon, CEO of Natixis and Chairman of the Board of Directors of Coface:

I am really happy with the conditions of this IPO. It is the result of 3 years of in-depth work by the Coface teams, headed by Jean-Marc Pillu, to ensure financial recovery and strategic refocusing and to put Coface on the road to development. The success of this operation demonstrates the trust of investors in the future of Coface and opens a new page in its history. I believe that being listed will support the development and ambitions of Coface. This operation also marks a new phase in the implementation of our strategic plan.”

 

 

The operation was carried out jointly by Natixis and JP Morgan.

No communication and no information in respect of the offering or the Coface Group may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction outside France where such steps would be required.

This press release is an advertisement and is not a prospectus for the purposes of applicable measures implementing Directive 2003/71/EC and the Council of 4 November 2003, as amended, in particular by Directive 2010/73/EU, to the extent implemented in each relevant Member State (together with any applicable implementing measures in the relevant home Member State the “Prospectus Directive”).

This press release does not constitute and shall not be deemed to constitute a public offering, a subscription offer, or a solicitation of public interest for any offer to the public of shares or other financial securities of Coface SA. This press release is an advertisement and has no prospectus character. The publication of this press release in certain countries may be considered to be a violation of applicable regulations. People physically present in such countries into which this press release is distributed should inform themselves about and comply with applicable laws and regulations. This press release must not be published or distributed, directly or indirectly, within the United States of America, Canada, Australia or Japan.

This document does not constitute a sales offer of shares or other securities of Coface SA or any purchase or subscribe solicitation for Coface SA securities in the United States of America or in any other country, including Canada, Australia and Japan. The securities of the Coface Group may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Coface S.A. shares have not been and will not be registered under the Securities Act and the Coface Group does not intend to register any portion of the offering in the United States or to conduct a public offering in the United States.

With respect to the member states of the European Economic Area other than France (the “Member States”) having implemented the Prospectus Directive into law, no action has been or will be taken in order to permit a public offer of the securities which would require the publication of a prospectus in one of such member states.

This document does not constitute a public offer of securities in the United Kingdom. With respect to the United Kingdom, this press release is directed solely at persons who (i) are outside the United Kingdom, (ii) are investment professionals falling within Article 19(5) of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the ‘‘Financial Promotion Order’’) or (iii) are persons falling within Article 49(2)(a) to (d) of the Financial Promotion Order (all such persons together being referred to as ‘‘relevant persons’’). This press release must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this press release relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Upon exercise of the over-allotment option, Natixis, acting as stabilizing manager (or any other entity acting on its behalf) acting in the name and on behalf of the underwriters, may, without any obligation, and with the right to terminate at any time for a period of 30 calendar days after the pricing of the offer, of 26 June 2014 until 26 July 2014 (inclusive) intervene in order to stabilize the market for Coface SA shares, in compliance with laws and regulations and in particular Regulation (EC) No 2273/2003 of 22 December 2003. The interventions for these activities are aimed at supporting the market price of the shares Coface SA and may affect their course.

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