My Energy Broker: My Energy Broker achieves fundraising goal through IPO

(BFM Bourse) – The energy broker for professionals announced on Friday evening that it has raised the 7 million euros necessary to develop its network of agencies and new services. The shares will be listed on Euronext Growth from 31 May.

My Energy Broker is ready to take his first steps on the Paris Stock Exchange. The energy broker for professionals in France announced after the stock market on Friday the success of the operation and the upcoming listing of its shares for trading on the Euronext Growth market in Paris.

The introductory price was already known, as it was set at 9.65 euros when the operation was announced.

In total, the issue of My energy broker shares represents a capital increase in the gross amount of approximately 7 million euros, i.e. the target amount. The group had the option, depending on demand, to use an extension clause that would have increased the number of new shares by 15%, but did not activate it. The oversubscription option (representing the addition of a maximum of 8.44% of new shares) can be exercised from the start of trading scheduled for May 31 to June 30.

So far, 3,625,388 million new shares have been issued. Specifically, 74% of the new shares were subscribed by institutional investors as part of the overall placement. On the side of small carriers, demand represented 26% below the fixed price offer.

At the end of the operation, according to the group’s press release, the market capitalization of My energy broker is approximately 35 million euros “based on the IPO price”.

Turnover of more than 40 million euros by 2025

The company, founded in 2017, plans to use the funds raised to finance its growth, which it declares to be “profitable”. To achieve this goal, the company intends to further thicken its business network at the national level and intensify its international development.

“These resources will allow us to accelerate the development of the group and take new ambitious steps around our three goals: development in France on an international scale, as well as the expansion of our offers related to the energy transformation of businesses. My Energy Broker will also bring prominence to the Group in a fragmented and fast-growing market,” stated Charlie Evrard, founder and CEO of My Energy Broker.

The strategy presented by My energy broker should allow it to generate a turnover of more than 40 million euros by 2025 (compared to 19.2 million euros in 2022), of which 15% would be generated internationally. The company is also targeting an operating profit of close to €5 million as well as increasing its network to bring it to more than 40 agencies by 2025.

The press release specifies that settlement-delivery of the shares will take place on 30 May 2023 and that the shares “will be admitted to trading on the Euronext Growth market, from 31 May”, i.e. Wednesdays, under ISIN: FR001400H3A0 and code mnemonic ALMCE.

“We are proud and very happy to join the ranks of companies listed on the Paris Stock Exchange,” says its founder Charlie Evrard.

My energy broker joins newcomers on the Paris coast online driving lessons pioneer Lepermislibre and, more recently, low-carbon soil specialist Florentaise, which went public in February and April this year.

Sabrina Sadgui – ©2023 BFM Bourse

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