(BFM Stock Exchange) – The specialist in digital music services progresses strongly on the Paris Stock Exchange after the consortium associating its boss with investment funds reported its offer to 17.20 euros to release the title from the coast.

The majority shareholders of Believe throw their last forces to take out the music distributor from the coast.

Upbeat Bidco, which is the entity bringing together the director general and founder of Believe, Denis Ladegaillerie, and the TCV and EQT funds, announced Tuesday, June 4, having noted the price of the buyout offer of (last) titles of the French group still in circulation.

To date, this consortium has 96.55% of the capital and 95.32% of Believe’s voting rights, after a first public supply of simplified purchasing which took place in June 2024.

An offer recorded at 17.20 euros per share

At the head of more than 90% of the capital, the consortium, will thus submit an offer at a price of 17.20 euros per action Believe to convince the last minorities to sell their titles.

This new proposal turns out to be higher than 12.4% at a price of 15.30 euros per share which was then offered last April as part of this public withdrawal offer (OPR), followed by a compulsory withdrawal.

On the Paris Stock Exchange, the Believe course which was established on Wednesday evening at 15.40 euros logically jumped this Thursday, June 5, February 5, to get closer to the expected OPR price, an increase of 11.2% to 17.12 euros.

The independent expert mandated by Believe considered that this price of the offer at 17.20 euros per share is fair “from a financial point of view for shareholders, including in the event of implementation of the compulsory withdrawal procedure”.

A long stock market

Believe will therefore say goodbye to the Paris Stock Exchange after a long stock market boaster. Announced in February 2024, this buyout project was punctuated by stock market jousts and criticisms on the price of the offer of 15 euros per share formulated by the consortium to release the title from the coast. .

It must be said that since its IPO in June 2021, the company has experienced an unflattering stock market. Before the announcement of the public purchase offer in early 2024, Believe cited 12.40 euros, and had even fallen under the 8 euros, at the end of October 2023, far from the price of 19.50 euros per share retained for its IPO.

This price was already fixed in the low terminal of the indicative range which went up to 22.50 euros. It was also the first company benefiting from the “French Tech” label to break into the tricolor market.

Believe will therefore feed a list already well furnished with companies that have left the Parisian side in recent years. In 2024, 36 companies turned their back on the Paris Stock Exchange, five more than in 2023, according to the 16th barometer of public offers in EY.