(News Bulletin 247) – The action of the energy broker for companies is experiencing significant volatility for its first day of listing on the Paris Stock Exchange.
For its first steps on Euronext Growth, a compartment of the Paris Stock Exchange dedicated to small caps, less restrictive in terms of regulatory obligations, My Energy Broker was on alternating current.
The title experienced a drop in tension from the first exchanges. My energy broker started its stock market life down sharply by 15% to record a historic low of 8.20 euros, before recovering from the first quarter of an hour of trading. Listing 9.697 euros around 11:45 a.m., My Energy Broker grabbed 0.5%, compared with an IPO price that had been set at 9.65 euros per share when the operation was announced.
The energy broker for professionals raised approximately 7 million euros, the amount targeted during its call on the market. The group had the option, depending on demand, of resorting to an extension clause which would have increased the number of new shares by 15%, but it did not activate it. An over-allotment option (representing an addition of a maximum of 8.44% of the new shares) may be exercised from the start of listing, scheduled for May 31, until June 30. For now, 3.63 million new shares have been issued before this over-allotment option. The settlement-delivery of the shares took place on Tuesday.
A 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 as “profitable”. To achieve this, the company intends to further densify its commercial network at the national level and intensify its international development.
The strategy presented by My energy broker should enable 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 aiming for an operating profit close to 5 million euros as well as an increase in its network to bring it to more than 40 branches in 2025.
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