Success of Neoen’s initial public offering on Euronext Paris

The offering was well received by a broad range of French and international investors and was amply subscribed despite highly volatile market conditions, resulting in a highquality shareholder base.
– The offering price was set at €16.50 per share. As a result, the offering currently amounts to approximately €628 million, making it the largest capital raise on Euronext Paris in the last 16 months. The offering may ultimately amount to as much as approximately €697 million in the event that the over-allotment option is fully exercised.
– Impala, Neoen’s majority shareholder, has subscribed for approximately €169 million of shares in the offering (pursuant to its previously announced commitment) and remains the company’s controlling shareholder. FPCI Capenergie 3, managed by Omnes Capital, Fonds Stratégique de Participations and Celeste Management SA have also subscribed in the offering.
– Trading on Euronext Paris is expected to start on October 17, 2018 on a when-issued basis in the form of “promesses d’actions”. Settlement and delivery for the shares is expected to occur on October 18, 2018.
– The over-allotment option for the offering may be exercised from October 16, 2018 to (and including) November 15, 2018.

Neoen (ISIN Code: FR0011675362, ticker: NEOEN), the leading independent French producer of exclusively renewable energy, and among the most dynamic in the world, announces today the success of its initial public offering (“IPO”) on the regulated market of Euronext Paris (Compartment A).

The IPO was amply subscribed by a large and well-diversified number of French and international investors that have a range of strongly complementary approaches to asset management and investment time horizons. This successful offering allowed Neoen to raise approximately €450 million from the issuance of new shares, which it expects to deploy to finance the pursuit of its strong growth. Based on the offering price of €16.50 per share, Neoen’s market capitalization will be approximately €1.4 billion following the completion of the offering.

Commenting on the success of the IPO, Xavier Barbaro, Chief Executive Officer of Neoen, said: “We are very proud of the success of our IPO. Neoen is now the first French unicorn in the renewable energy sector and has at the same time achieved far and away the largest capital raise in the last 16 months on Euronext Paris. In a particularly demanding market context, this success is a powerful sign of confidence in our strategy, positioning and growth potential. This IPO is a major step in the life of our company and we are very grateful to our shareholders, old and new, as well as our teams and our advisors, for having made this offering so successful.”

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