(News Bulletin 247) – To accelerate its development, the pioneer of online driving school is launching its IPO on Wednesday. Lepermislibre hopes to raise up to 10.6 million euros to eventually become the leader in driving instruction on a dematerialized platform.
After a year 2022 poor in operations, Lepermislibre unblocks the counters of the IPOs of the year 2023. The pioneer of online driving school claims a turnover multiplied by 7 between 2019 and 2021 and aims to become the French leader in online driving instruction. It is to finance the acceleration of its growth that Lepermislibre is counting on the stock market to be several steps ahead of its competitors.
Lepermislibre has thus just kicked off its listing on the “Growth” segment of Euronext Paris, dedicated precisely to SMEs in the take-off phase who have come to seek the means to continue their growth. Open until February 8, the operation aims to raise 8 million euros in fresh money (up to 10.6 million euros depending on the possibility of extension) from private and institutional investors.
Lepermislibre shares are therefore offered since this Wednesday morning at a fixed price of 3.83 euros until February 7, 2023 in the evening for individuals, institutions can participate in this fundraising until February 8 at 12:00 p.m. The company has already received subscription commitments for an amount of 5.3 million euros, representing 66% of the gross amount sought (i.e. 3.8 million euros from Eiffel Investment Group and 1 .5 million euros from NextStage).
A pioneer of online driving school
Presented as the pioneer of online driving school, the company intends to revolutionize the learning of the highway code and driving in the digital age. The company explains that it offers an educational offer that “breaks with traditional players”, closer to the new uses and lifestyles of the generation having grown up with the development of digital technology. Lepermislibre is the first online driving school, approved by the State since 2014.
Obtaining the precious pink card is for some a real test towards social and professional integration, which makes it the first exam before the baccalaureate. It is therefore more than 1.2 million candidates who present themselves each year to obtain the precious sesame. The company thus estimates this market at around 2.2 billion euros in France.
Become the French leader in driving instruction
Lepermislibre now considers itself ready to take a new step in its development. To achieve this, the company intends to pursue “an offensive strategy” articulated around 3 main axes that it considers strategic: an acceleration of its national reputation, a densification of the geographical network and an enrichment as well as a diversification of its offer. The funds that will be raised on the occasion of this IPO will provide the company with the financial means necessary to implement its development strategy.
The roadmap presented by Lepermislibre should enable it to achieve operating profitability (at the level of gross operating income or Ebitda) by the end of 2024 and to achieve a turnover of between 45 and 50 million euros from 2025 with a gross margin above 30%. The objective presented by the company externalizes a weighted average growth rate (CAGR) of approximately 40% per year between 2021 and 2025.
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