EuropaCorp soon on stock market
by Fabien Lemercier
27/06/2007 - The company EuropaCorp will take its first steps on the Euronext Eurolist stock market on July 6. The quotation will give private and public entities the opportunity to invest in the production, distribution and international sales outfit directed by Luc Besson and Pierre-Ange Le Pogam, who currently hold respective shares of 73% and 16% in the group.
The raising of additional capital has allowed EuropaCorp to issue between 5 and 5.5 million shares (24.5%-26.3% of capital), which went on sale yesterday and can be bought until July 4 at a price of €14 to €16.25 per share. The operation makes EuropaCorp worth €316m.
Founded in 1999, the outfit, which has produced or co-produced 45 feature length films, recorded profits of €8.2m in 2006 and made 41% of its turnover from international activities in the past two years. Now the company wants to give itself additional means so that it can continue its expansion, in particular in the production of English-language films with big-name casts and animated features such as Arthur and the Invisibles [trailer], which grossed $107m worldwide and for which two sequels are planned in 2009 and 2010.
Other films currently in production or post-production include Frontières [trailer] (see news), Xavier Gens’ Hitman, Pierre Morel’s Taken with Liam Neeson, Go Fast by Belgian director Olivier Van Hoofstadt (see article), as well as James de Monaco’s project Staten Island, starring Ethan Hawke (with Why Not Productions).
Meanwhile, EuropaCorp will continue progress on the construction of the future Cité du cinéma complex at Saint-Denis outside Paris. Planning permission for the complex being built on a 6.5 hectare site and which will have nine sets was granted in November 2006.
(Translated from French)