Going public in the equity markets is a trend that many companies have been pursuing lately. This possibility is considered by them to finance their growth plan. This is the turn of the Icade group, which has announced that it has chosen the option of drawing up a plan to list its subsidiary Icade Santé on Euronext Paris. According to the French real estate company's forecasts, the operation should be finalised in the next few days.
The French group Icade has announced its intention to list Icade Santé, its subsidiary specialising in healthcare real estate, on the stock market. This IPO is expected to take place on Euronext Paris. Indeed, the objective of this IPO project is to find financing to implement the development and investment plan of the subsidiary in question.
As a reminder, Foncière Santé is a 58.3% owned subsidiary of the Icade group. It has assets estimated at over 5.7 billion euros. 5.7 billion and owns a total of 179 assets. Of these, 40 assets are located internationally.
Furthermore, the Icade group estimates that the IPO is expected to be completed by the end of 2021. This will be subject to market conditions, it says. In addition, the company stresses that it will communicate additional information on the subject in the coming days. This should take place on 26 July, when the half-yearly results for the current financial year are published.
Another major event has also been announced as part of the IPO project. This is the appointment of Helga Camalon as the new Chief Financial Officer. This announcement undoubtedly indicates changes within Icade Santé in the coming days.
To give an overview of the biography of Helga Camalon (53 years old), it is only necessary to say that she is a recognized professional in the real estate sector. She has proven herself in the industry with over 25 years of experience. During her career, she has successfully led a large number of strategic real estate projects.
Ms. Camalon has provided her expertise in the realization of IPO projects, in financing and in the sale of assets. In addition, before taking up her new position, she was Director Real Estate Industry Group (at BNP Paribas CIB).
Icade is a French real estate group specializing in real estate and development activities. With a real estate portfolio valued at over €11.5 billion, the company is recognised as the fifth largest real estate company in France. On the European continent, it holds a leading position in offices and business parks.
The group's business model is based on design, construction, management and investment. The company's organisation is based on three divisions: Foncière Tertiaire, Foncière Santé and Promotion. In addition, Caisse des Dépôts holds 39% of the company's capital. As a result, Icade has the strongest financial position in the sector.