Deezer goes public with the ambition to double in size by 2025

Jeronimo Folgueira, CEO of Deezer, at the inauguration of the company’s new headquarters in Paris on March 16, 2022. REA/Eric TSCHAEN/REA

The merger with the SPAC I2PO allows the French audio streaming platform to raise 143 million euros.

This time should be the right one. Seven years after a first IPO attempt was aborted due to unfavorable market conditions, Deezer, the French music streaming platform, finally arrives on the Paris Stock Exchange this Tuesday, July 5. Its first steps on the stock market are marked by a 16% drop in the stock to 7.14 euros half an hour after the first listing. The IPO operation was carried out thanks to the merger with a SPAC, I2PO, this special vehicle created by the Pinault family, Combat, the group of Matthieu Pigasse and Iris Knobloch, the former boss of Warner Bros. France.

In July 2021, this SPAC raised 275 million euros on the stock market and last April chose Deezer as its ideal target. However, 90% of SPAC investors – mostly international hedge funds – have decided to withdraw their money from this stock market vehicle. There are therefore only 23 million euros left in cash, including the 15 million invested by Artémis, the holding company of…

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