EUROPE/MIDDLE EAST/AFRICA

摘要

Credit insurer coface, a wholly-owned subsidiary of Natixis, began bookbuilding for an up to €895.87m all-secondary IPO on Monday. The offering runs until June 26, with a trading debut scheduled for the following day. The institutional offer of 79.989m shares at €9.60-€11.20 represents 50.5% of the company, and is accompanied by an employee offer of 1.568m shares priced at €7.68-€8.96. Natixis is providing a 15% secondary greenshoe, which could reduce its stake to 40.9% if exercised. IP Morgan and Natixis are joint global coordinators and joint bookrunners alongside BNP Paribas, Credit Suisse, Deutsche Bank, and Morgan Stanley. Credit Agricole, Commerzbank, ING, Banca IMI and Santander are co-lead managers.