Deinove updates IPO plans

Deinove S.A. (Paris, France) said it is seeking to raise about EUR 12 million ($16.2 million) through the sale of up to 1.4 million shares at EUR 7.50-EUR 9.16 in an IPO on Euronext Paris. If sold in full at the midpoint of EUR 8.33, the company would be valued at EUR 40.3 million ($54.4 million) based on 4.8 million shares outstanding.

The offer, which is underwritten by Invest Securities and Dexia Securities, is expected to close on April 20, with the first day of trading slated for April 27. Existing investor Truffle Capital has committed to subscribe for EUR 2 million ($2.7 million) in shares. Deinove said the number of new shares in the offering may be increased by up to an additional 216,000 shares via an extension clause, not including the overallotment. ...