BNP Paribas Appointed for GTT IPO

BNP Paribas Securities Services was chosen by Gaztransport & Technigaz (GTT) to handle the securities mechanisms of its initial public offering (IPO) on the Euronext Stock Exchange.
By Janet Du Chenne(59204)
BNP Paribas Securities Services was chosen by Gaztransport & Technigaz (GTT) to handle the securities mechanisms of its initial public offering (IPO) on the Euronext Stock Exchange.

GTT providers cryogenic membrane containment systems used in the shipbuilding industry for the transportation of liquefied natural gas. Its IPO raised €621 million and its market capitalization stands at around €1.7 billion. As part of this role, which is separate from that of the advisory banks, BNP Paribas provided structuring, management and administration services on all the securities aspects of the IPO.

BNP Paribas Securities Services, in partnership with BNP Paribas Épargne & Retraite Entreprises, also provided a one-stop-shop to manage the employee portion of the IPO.

Philippe Berterottière, GTT’s chairman and CEO, notes: “GTT has a very long relationship with BNP Paribas and has been very happy to work with BNP Paribas Securities Services on this successful IPO.”

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