BNP Paribas Mandated on Numéricable Group IPO

BNP Paribas Securities Services provided structuring, management and administration services to Numéricable Group, the French cable and fibre company, for its IPO in November 2013.

The services include corporate actions for the IPO, which took place on NYSE Euronext Paris. Separate to advisory banks and law firms, each IPO requires the appointment of a specialized bank tasked with the technical execution of the various components of corporate actions in the final stage.

BNP Paribas was chosen to provide this service based on the innovation it brought in simplifying and ensuring the security of the numerous transactions involved. The Numéricable Group IPO raised approximately €750 million, making it the largest IPO in Paris since 2009.

The IPO was executed in two tranches, with the first reserved for employees and the second open to all other investors. Apart from the coordination and structuring of securities aspects of the IPO, the bank provided the company with the online “My Subscription” system for the employee portion, and successfully ensured the settlement of each tranche.

“An IPO is a real adventure, but BNP Paribas Securities Services immediately reassured us. The team of specialists responsible for our account were readily available to explain, advise and answer all of our questions,” said Martin Douxami, corporate finance director at Numéricable Group. “We established close connections, so we decided to hire BNP Paribas Securities Services to manage our registry, organize our annual general meeting and pay our future dividends.”