(BFM Bourse) – Shares in the energy broker for businesses are experiencing significant volatility on the first day of trading on the Paris Stock Exchange.
For its first steps on Euronext Growth, the small-cap division of the Paris exchange, less restrictive in terms of regulatory obligations, My Energy Broker was AC.
Shares saw a drop in tension from the first exchanges. My energy broker opened its share market with a sharp 15% drop to hit an all-time low of €8.20 before recovering in the first quarter of an hour of trading. My energy broker, quoted at €9,697 at around 11:45am, gained 0.5% compared to the launch price, which was set at €9.65 per share when the operation was announced.
The energy broker for professionals raised around 7 million euros, the target amount, during its market call. 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. At this time, 3.63 million new shares were issued prior to this redistribution option. The settlement and transfer of shares took place on Tuesday.
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.
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.
Sabrina Sadgui – ©2023 BFM Bourse