(AOF) – Sycomore Asset Management, an asset management company specializing in sustainable finance and shareholder of the company Believe, up to 0.99% on behalf of UCITS and mandates, announces that it has no intention to tender its shares to the public purchase offer announced by the consortium formed by the EQT funds, TCV and the founder Denis Ladegaillerie due to the too low amount of the price offered per share.
“Believe, a French unicorn specializing in digital music, went public in June 2021 with the support, among others, of Sycomore Asset Management at a price of 19.50 euros. The company has since delivered its business plan with a growth in its turnover of more than 20% on average per year and the multiplication of its Ebitda by 7. Its stock market trajectory therefore reflects neither the intrinsic value of the company nor the quality of its management team”, argues Sycomore Asset Management in a press release.
“As a long-term shareholder, we cannot accept a buyout offer below the IPO value of this company even though its economic development is doing well,” continues the asset management company. assets, strongly inviting Believe shareholders not to tender their shares to the offer, and to believe in the future of this “nugget” of music.
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