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December 12, 2006
Two IPOs On Eurolist Create €2.3B Worth Of Dotcom And Alt Energy Cos.
It's not just London that is proving to be a good bet for tech IPOs, Euronext's Eurolist exchange is creating some nicely valued companies too.
In the past couple of weeks, the IPOs of EDF Energies Nouvelles, the wind power company, and Seloger.com, a venture-backed online real-estate site, have created two French companies with a combined valuation of about €2.3B.
EDF Energies Nouvelles, a spinoff of the French utility company EDF, raised €340M in its IPO. It was not a venture-backed company but we include it here because it is an alt energy company. Its market cap was €1.96B last time we looked. And Seloger.com has a market cap of €366M. Its last investment round before its IPO was led by 3i.
That's two examples, and you could add Meetic, the online dating company, as well. Despite a drop in its share price back to its IPO level in recent months, it still boasts a current market cap of €365M on Eurolist.
Now that they have valuable paper and some cash, we might add, we would expect these tech companies to start leading some M&A activity - perhaps giving VCs and founders of innovative startups some exits, in the same way that Cambridge Silicon Radio, for example, has been doing.
Posted on December 12, 2006 04:02 PM | Posted to News And Updates | Permalink
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