Elis, €854 million Initial Public Offering, France
2015
STJ Advisors acted as independent advisor to Elis SA, one of Europe’s leading providers of services for the rental and maintenance of professional clothing, textiles, sanitary equipment and drinks dispensers, and to its majority shareholder Eurazeo on the company’s IPO on Euronext Paris, raising proceeds of €854 million and giving the company a market capitalisation of €1,482 million.
By midday on the first day, the shares were trading up by approximately 3%, with a low turnover that day of c.16% of the offering (significantly less than in other recent EMEA IPOs). By the end of the first week of trading, the shares were trading at between 8% and 9% above the issue price.
The Elis IPO was the largest French IPO since July 2014 and one of the first European IPOs 2015.
