For the first time since its initial public offering in May of 1997, Lafuma has filed papers with the AMF (The French Financial market regulator) for a secondary public offering of 478,035 shares for a total of 25.3 million ($30.4 mm). The offering price per share will be 53.00 ($62.50).
Lafuma has listed three primary objectives for this offering. First, to reinforce the groups ability to carry out acquisitions aimed at increasing its product and/or market expertise. These acquisitions must specifically fit within Lafumas 4 business divisions.
Second, to foster organic growth mainly through international business, but also to advance objectives in the launching of new product lines and new store openings under its existing brand names. Finally, the new capital will offer the group more financial flexibility. Lafuma management believes that the group is “on the frontier” of a new growth phase.
The offering will be managed and underwritten by Calyon and co-managed by Societe Generale. The offering has already been adopted by major shareholders, whose directors declared their intention to fully or partially exercise their rights and Fortis Private Equity, who has committed to a minimum investment amount of 7.1 million ($8.2 mm).
