BNP Paribas chosen for Numéricable IPO 28 January 2014Paris Reporter: Daniel Jackson
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BNP Paribas Securities Services will provide structuring, management and administration of the securities aspects of Numéricable Group’s New York Stock Exchange IPO.
Separate to advisory banks and law firms, each IPO requires the appointment of a specialised bank tasked with the technical execution of the various components of corporate actions in the final stage.
BNP Paribas was chosen to provide this service based on the innovation it brought in simplifying and ensuring the security of the numerous transactions involved. The Numéricable Group IPO raised approximately €750 million, making it the largest IPO in Paris since 2009.
The IPO was executed in two tranches, with the first reserved for employees and the second open to all other investors. Apart from the coordination and structuring of securities aspects of the IPO, the bank provided the company with the online My Subscription system for the employee portion, and successfully ensured the settlement of each tranche.
Martin Douxami, corporate finance director at Numéricable Group, said: "An IPO is a real adventure, but BNP Paribas Securities Services immediately reassured us. The team of specialists responsible for our account were readily available to explain, advise and answer all of our questions. We established close connections, so we decided to hire BNP Paribas Securities Services to manage our registry, organise our annual general meeting and pay our future dividends."
Stéphanie Marelle, head of corporate trust services at BNP Paribas, said: "We wish to thank Numéricable for the trust they have shown in us. Through this latest transaction, BNP Paribas Securities Services has bolstered its leadership in terms of IPOs in Europe. An IPO is a major turning point in the life of a company and must be executed with absolute precision. Our dedicated IPO team has acquired a level of expertise through its considerable experience that enables it to address any situation."
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