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ROCHE BOBOIS: SUCCESSFUL IPO
ON EURONEXT PARIS
Paris, 9 July 2018
• Gross amount of the transaction: €19.8 million under the Global Placement (GP)
and Open Price Offer (OPO), which may be increased to €22.7 million if the over-
allotment option is fully exercised
• Share price set at €20.0
• Market capitalisation of around €198 million
• Start of trading on 9 July 2018 on an if-and-when-issued/delivered basis and
on 11 July 2018 for Roche Bobois shares
• Eligible for PEA & PEA-PME equity savings plans
ROCHE BOBOIS, a global benchmark on the high-end furniture market and the name behind the French
Art de Vivre, today announces the success of its initial public offering and the upcoming admission of its
shares for trading on the Euronext market in Paris, Compartment B (ISIN: FR0013344173 - Trading
symbol: RBO).
At the IPO price, global demand amounted to 1,169,073 shares, including 88% under the global placement, mainly intended for institutional investors, and 12% under the open price offer mainly intended for individual investors.
Following consultation with Company management, the existing shareholders (the Chouchan family (via
Familiale J-E.L.C. and Mr Jean-Éric Chouchan) and TXR S.r.l.) set the IPO price at €20.0.
A total of 987,521 existing shares were sold under the transaction, for a gross amount of €19.8 million,
before exercise of the over-allotment option.
The number of shares sold may be increased by a maximum of 148,128 additional existing shares in the
event of the exercise of the over-allotment option granted to Portzamparc Groupe BNP Paribas, acting in
the name and on behalf of the Global Coordinators, Joint Lead Managers and Bookrunners, between the
date of this press release and 6 August 2018, bringing the amount sold to €22.7 million.
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The Company’s market capitalisation amounts to €198 million on the basis of the IPO price.
A liquidity agreement will be set up at the end of the stabilisation period, i.e. no later than 7 August 2018.
As mentioned previously, the two founding families, Roche and Chouchan, acting in concert and together
representing 54.4% of the capital after the transaction (before exercise of the over-allotment option), will
continue to provide their full support for the Group’s ambitious development plan.
Gilles Bonan, Chairman of the Board, made the following comments:
"I would like to express my deep thanks to the institutional and individual investors who have joined us
and placed their trust in us. Our family company (French ETI), employees, franchisees, partners and
shareholders, are proud to have made the Group’s capital available to the public for the very first time.
This transaction comes at a key stage in our development, marked by the stepping up of our ambitions,
particularly abroad. It will help the Roche Bobois Group to bolster its reputation, visibility and standing in
France and abroad, undoubtedly enabling us to attract new talent. Our teams are fully committed to the
roll-out of our bold development plan over the coming years and to meeting our revenue and profitability
targets.”
Share settlement and delivery is scheduled for 10 July 2018. Trading of ROCHE BOBOIS shares will start
on 11 July 2018.
FINANCIAL INTERMEDIARIES AND ADVISERS
Global Coordinators Financial Communication
and Joint Bookrunners
About Roche Bobois SA
Roche Bobois SA is a French family business founded in 1960. The Group operates in 54 countries and has a network of 329 owned stores and franchises (at 31 December 2017) marketing its two brands: Roche Bobois, a high-end furniture brand with a strong international presence, and Cuir Center, positioned in the mid-range market segment with an essentially French customer base. Through its Roche Bobois brand, the Group embodies the French Art de Vivre whose presence can now be felt on the world stage, with original and bold creations from talented designers (Bruno Moinard, Jean Nouvel, Ora Ito, Sacha Lakic, Christophe Delcourt, Stephen Burks, Kenzo Takada, Bina Baitel...) and partnerships with fashion and haute couture houses. Roche Bobois is also a committed partner in the world of culture and the arts. Including franchises, these two brands posted 2017 revenues of €480 million excluding VAT, to which Roche Bobois contributed €388 million and Cuir Center €92 million. Roche Bobois SA consolidated revenues came to €249 million in 2017.
For more information please visit www.bourse-roche-bobois.com
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TRANSACTION TERMS
SECURITY IDENTIFICATION DETAILS
• Euronext Paris - Compartment B • ISIN: FR0013344173 - Trading symbol: RBO
SHARE PRICE
• The IPO price for the Global Placement and Open Price Offer is set at €20.0 per share.
OFFERING AMOUNT
• 987,521 existing shares were sold under the Offering, before a potential exercise of the over-allotment option.
• Total gross proceeds amounted to approximately €19.8 million, before exercise of the over-allotment option.
OFFERING BREAKDOWN
• 990,691 shares allocated under the Global Placement (representing around €19.8 million and 87% of the total number of shares allocated);
• 144,958 actions allocated under the Open Price Offer (representing around €2.9 million and 13% of the total number of shares allocated). Both A1 orders (from 1 to 125 shares inclusive) and A2 orders (more than 125 shares) will be 100% served.
LOCK-UP ARRANGEMENTS
• Company lock-up period: 180 days. • Shareholders lock-up commitment:
o 360 calendar days for shareholders excluding TXR S.r.l.1 o 180 days for TXR S.r.l.
INDICATIVE TIMETABLE
9 July 2018 ROCHE BOBOIS shares admitted for trading on an if-and-when-issued/delivered basis (sous la
forme de promesses d’actions) (until 10 July 2018 inclusive)
10 July 2018 Settlement-delivery of OPO issue and Global Placement
11 July 2018 Start of trading in ROCHE BOBOIS shares on Euronext Paris
6 August 2018 Deadline for exercise of over-allotment option
End of stabilisation period, if any
1 With the exception of Sabine, Catherine and Laurent Chouchan, together representing less than 0.5% of the Company’s share capital
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POST-TRANSACTION SHAREHOLDER STRUCTURE
ELIGIBILITY OF THE OFFERING FOR PEA AND PEA-PME EQUITY
SAVINGS PLANS
ROCHE BOBOIS hereby represents that it meets the eligibility criteria for PEA-PME equity savings plans set out in the implementing decree dated 4 March 2014 (decree no. 2014-283).
Accordingly, ROCHE BOBOIS shares can be fully integrated within PEA equity savings plans and PEA-PME accounts, which benefit from the same tax incentives as classic PEA plans.
CONTACT
Actus Finance – Anne-Pauline Petureaux
Investor Relations
Tel.: +33 (0)1 53 67 36 72 [email protected]
Actus Finance – Alexandra Prisa
Press Relations
Tel.: +33 (0)1 53 67 36 90 [email protected]
Before sale of 987,521 existing
shares
After sale of 987,521 existing shares, excluding exercise of the
over-allotment option
After sale of 1,135,649 existing shares and after exercise of the
over-allotment option
Roche family 37.6% 37.6% 37.1% Chouchan family* 23.8% 16.8% 16.3% TOTAL CONCERT 61.4% 54.4% 53.4% Other Chouchan family members** 0.3% 0.3% 0.3% TXR S.r.l. 38.3% 35.3% 34.8% Float - 10.0% 11.5% TOTAL 100.0% 100.0% 100.0%
* excluding interests held by Sabine, Catherine and Laurent Chouchan ** Sabine, Catherine and Laurent Chouchan
