Global law firm White & Case LLP has advised SMCP on its initial public offering on Euronext Paris.
The prospectus received the visa from the French financial markets authority (Autorité des marchés financiers) on October 6, 2017 and the maximum amount of the offer is approximately €623 million, including a capital increase of approximately €127 million. The first listing took place on October 20, 2017 and the settlement-delivery will be completed on October 23, 2017.
SMCP is controlled by the Chinese group Shandong Ruyi; following the IPO, European TopSoho Sàrl, a company controlled by Shandong Ruyi, will retain approximately 55 percent of the share capital, with the free float representing approximately 38 percent (assuming full exercise of the overallotment option).
SMCP is a global player in the apparel and accessories market with three distinct contemporary Parisian fashion brands, Sandro, Maje and Claudie Pierlot. At the end of June 2017, SMCP brands were present at more than 1,200 points of sales in 36 countries. During the 12 month period ended on December 31, 2016, total net sales were approximately €786 million, with an EBITDA of around €129 million.
The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Séverin Robillard with support from associates Tatiana Uskova, Petya Georgieva, Jean Paszkudzki, Adélaïde de Guitaut, Sophie Nguyen and Guillaume Monnier. Partner Colin Chang and counsel Max Turner, supported by associate Ryan Sykora, advised on matters of US law, and partner Alexandre Ippolito, with support from associate Charline Schmit, advised on tax aspects. Partner Alexandre Jaurett advised on employment aspects.
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