(Boursier.com) — Pluxee fell back by 3.7% this Friday to 28.80 euros, while the group resulting from the Sodexo ‘spin-off’ saw its first listing take place with a sharp increase yesterday on the Paris stock exchange. The Pluxee spin-off was implemented according to the defined schedule, namely the detachment and the first listing on Euronext Paris on February 1. Delivery of Pluxee shares to shareholders is scheduled for February 5…
Pluxee benefits from a strong balance sheet and net cash of €859 million as of August 31, 2023, providing a solid foundation for its trajectory as a standalone company. The Group has also secured a solid financial structure, including a bridge loan of 1.5 billion euros and a revolving credit line of 650 million euros.
The drawdown of 1.1 billion euros on the bridge loan enabled Pluxee to repay Sodexo before its listing while maintaining its capital structure.
Among the brokers’ first opinions, Barclays is at ‘market weighting’ on Pluxee with a target of 28 euros and Morgan Stanley at ‘market weighting’ with a target of 32 euros.
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