Europcar Shares Decline After Paris IPO

Photo via Wikimedia.
Photo via Wikimedia.

Last Friday, shares of Europcar declined more than 3% in early trading in Paris after its initial public offering, according to a New York Times report.

Europcar sold 879 million euros (about $985 million) in an offering of 71.8 million shares, according to the report. Europcar priced its stock at 12.25 euros per share, which dropped this week between 12 euros and 13.25 euros.

Europcar will keep 475 million euros from its sale of the issued shares. Shareholders, including French investment firm Eurazeo, sold 404 million euros worth of shares in the offering, according to the report.

Europcar plans to use the proceeds to reduce its debt and increase its financial flexibility for future development, says the report.

Click here for the full New York Times report: http://www.nytimes.com/2015/06/27/business/dealbook/europcar-shares-decline-in-early-trading-after-paris-ipo.html

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Car Rental Rates Up, Fleet Sales Down — Correlation?

Car rental companies’ recent fleet discipline is needed now more than ever.

Hertz, Avis Autonomy Partnerships: Good First Steps on a Long Path

Two new autonomous vehicle project partnerships bring the importance of fleet management to the fore.

An Inside Look at Car Rental in China

A trip to a new car rental convention in Guangzhou reveals a booming market, yet one facing unique challenges.

Job Finder: Access Top Talent. Fill Key Positions.

>