The reclassification transaction occurred as part of an accelerated book building (ABB) process with institutional investors, in which CM-CIC Market Solutions acted as exclusive bookrunner. Almost 512,000 shares were thus reclassified, which represents the equivalent of 212 trading days (average over 2019).
Thanks to the major efforts of our Paris and US teams, the ABB was carried out in two hours, with over 40% of demand of international origin. In total, over twenty orders were registered in the book.
Thanks to this transaction, Thermador Groupe has diversified its shareholder structure and improved the liquidity of its stock over time.
CM-CIC Market Solutions accompanies shareholders of listed companies in their divestiture initiatives. The Primary Market Solutions - ECM and Secondary Market Solutions - Equity sales teams in Paris and New York are reactive in these reclassification transactions, which require both in-depth knowledge of the issuer - who relies on proprietary and rigorous research on French SMEs and medium-sized companies - and a close relationship of trust with the aforementioned shareholders. The establishment of a long-term relationship of trust with its clients is at the heart of Crédit Mutuel Alliance Fédérale's principle of commercial action, and in particular that of CIC.
CM-CIC Market Solutions would like to thank Financière Borde, which mandated it.