Ymagis Raises 11.6M€ In Its Initial Public Offering On The Regulated Market Of NYSE Euronext Paris

30 April 2013
Definitive price of the Offering: € 7.65 per share

YMAGIS, the specialist in digital technologies for the film industry, announces the success of its initial public offering on the regulated market of NYSE Euronext Paris, compartment C.

At this occasion, Jean MIZRAHI, CEO of YMAGIS, stated: “I would like to thank all the institutional investors and individual shareholders, from France and Europe, for their interest and trust in participating to our IPO. The proceeds raised will help us in developing and offering to our European customers the solutions they need to best benefit from digital technologies. These proceeds will enable us to take YMAGIS to the next level of its development and to create value for our shareholders, with the ambition to become the leading European provider of digital services and technologies for the cinema industry. Together, we will define the cinema of the future.”

Total demand reached 14.5 M€, of which 14.0 M€ from the Global Placement and 0.5 M€ from the Open Price Offering.

Price was set at €7.65 per share for both the Global Placement and the Open Price Offering, at the lower limit of the indicative price range for the initial public offering, which was offered between €7.65 and €9.35 per share.

The number of new share issued by the company amounted to 1,512,667, i.e. a free float of 21.88% of the capital and 13.61% of the voting rights

Allotment of the new shares is split as follows:

  • Global Placement: 1,445,581 shares allocated to institutional investors, i.e. 95.6% of the total number of shares issued;
  • Open Price Offering: 67,086 shares allocated to individual shareholders, i.e. 4.4% of the total number of shares issued.

Based on a capital stock of 6,495,531 shares, and a price of €7.65 per share, YMAGIS’ market capitalisation amounts to 49.7 M€ upon IPO completion (including the issuance of 1,039,992 new shares resulting from the Early Redemption of the existing Convertible Bonds).

Settlement and delivery of new shares issued under the Global Placement and the Open Price Offering will take place on 6 May 2013. First trades on NYSE Euronext Paris regulated market, compartment C, will start on 7 May 2013, on continuous listing, under the ISIN code FR0011471291 and mnemonic code MAGIS.

Highlights of the transaction

Price of the Offering

  • Price of the Open Price Offering and the Global Placement is set at €7.65 per share;
  • Market capitalisation upon IPO completion amounts to approximately 49.7 M€.

Size of the Offering and gross proceeds of the transaction

  • 1,512,667 news shares issued under the Offering;
  • The gross proceeds of the transaction amounts to approximately 11.6 M€.

Allotment of the Offering

  • Global Placement: 1,445,581 new shares were allocated to institutional investors, i.e. approximately 11.1 M€ and 95.6 % of the total number of shares offered;
  • Open Price Offering: 67,086 shares were allocated to individual investors, i.e. approximately 0.5 M€ and 4.4 % of the total number of shares offered. A1 and A2 orders were served in full.

Impact of the Offer on the distribution of capital and voting rights

After the Offering (and after Early Redemption of Convertible Bonds), the impact on the distribution of capital and voting rights is as follows:

(1) Including the Offering and the 1,039,992 new shares resulting from the Early Redemption of the existing Convertible Bonds
(2) The distribution of capital is as follows:

  • Jean Mizrahi (current Chairman and Chief Executive Officer of Ymagis SA): 81.04%
  • Six employees (none of whom holds more than 5.92%): 16.40%
  • Two individuals (former employees): 2.56%
Characteristics of YMAGIS securities
  • Name: YMAGIS
  • ISIN Code: FR0011471291
  • Mnemonic code: MAGIS
Indicative timetable of the offering
  • 6 May 2013: settlement/ delivery of shares
  • 7 May 2013: start of trading on the NYSE Euronext
  • 30 May 2013: expiry date for the exercise of the Over-Allotment Option
Financial intermediary and advice

Prospectus availability

Copies of the prospectus filed with the financial markets authorities (AMF) on 17 April 2013 under the number 13-165, composed of the registration document filed on 9 April 2013 under the number I. 13-012 and the “note d’opération” are available at no cost from YMAGIS (106-108 rue La Boétie, 75008 Paris), as well as the websites of YMAGIS (www.ymagis.com) and the financial markets authorities (www.amffrance.org).

Risk factors

YMAGIS would like to draw the public's attention to chapter 4 "Risk factors” in the registration document listed by the financial markets authority and in particular the following risk factors:

  • New financing solution could be offered following the scheduled stopping of the VPF system, especially to finance the replacement of digital equipments; and
  • Risks relating to off balance sheet commitment generated to third-party collector activity as well as risk factors relating to the Offering described in the “Note d’Opération”