Africa’s Dancehall leader, Shatta Wale has been featured as a major Believe Priority Talent following the Digital Distribution Company’s listing on the France trade market.
Believe Digital – Digital Service Provider for MiPROMO Media, has celebrated its first day of trading in France with Shatta wale as one of the featured artistes
The company’s IPO offer price has been set at €19.50 per share, implying a market capitalization of approximately €1.9 billion ($2.3 billion) before the exercise of the over-allotment option.
As reported last week, Believe’s indicative price range of the IPO was between €19.50 and €22.50 per share, with an initial issuance of 15,384,616 new shares.
That entire allocation has now been snapped up by investors.
In a media statement announcing the successful IPO today, Believe reports that it had strong demand from established investors in France and abroad.
The Fonds Stratégique de Participations (FSP), who had committed to place an order for shares in an amount of €60 million, was allotted 3,076,923 shares.
Settlement and delivery for the shares issued in Believe’s offering is expected to occur on June 11, 2021.
Upon completion of the IPO, Believe’s shareholding structure will be as follows:
Citi, J.P. Morgan and Société Générale are acting as Joint Global Coordinators and Joint Bookrunners, while BNP Paribas, Goldman Sachs, HSBC and UBS are acting as Joint Bookrunners.
Rothschild & Co is acting an independent financial advisor to Believe.
“THIS LISTING GIVES US THE MEANS TO ACCELERATE OUR DEVELOPMENT BY FULFILLING OUR MISSION TO DEVELOP INDEPENDENT ARTISTS AND LABELS IN THE DIGITAL WORLD WITH RESPECT, FAIRNESS AND TRANSPARENCY.”
DENIS LADEGAILLERIE, BELIEVE
In a statement issued today, Denis Ladegaillerie, Founder and CEO of Believe, said his company is now “crossing a new threshold in its development by going public”.
Ladegaillerie stated: “The funds raised will allow us to invest in our innovative technology platform and to implement our ambitious strategy of targeted acquisitions.
“This transaction was also intended to build a solid and balanced shareholder base alongside TCV, our long-term shareholder.
He added: “We are delighted to welcome the Fonds Stratégique de Participations (FSP), a long-term investor that supports the development of French champions, and Sycomore Asset Management, a leading player in responsible investment.
“This listing gives us the means to accelerate our development by fulfilling our mission to develop independent artists and labels in the digital world with respect, fairness and transparency.”
Big congrats from all of us at Ghanamusic.com & MIPROMO Media to our cherished client Shatta Wale and our Digital Service Provider – Believe Digital. Anticipate a worldwide musical pandemic when his highly anticipated Gift of God album drops this year!
THANK YOU for constantly reading our stories. Kindly like, comment and SHARE stories on all social media platforms for more entertaining updates!