Colis Prive takes step toward IPO

French last mile delivery company Colis Prive took its first step towards flotation on the Stockmarket with the regulators in France approving its initial public offering (IPO) document. This is the first step for listing on the Euronext Paris stock exchange.

The aim of the IPO is to raise funds to expand overseas into countries including Belgium, Luxembourg and Morocco.

Amazon is one of its major shareholders with 9.65% of its shares. The online giant is Colis Prive’s biggest customer too, according to the carrier.

In the latest financial results, full year revenue grew by 46% to €233.8 million in 2020-21. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 94% over the same period to 21.5 million euros. First quarter sales rocketed by 58% to €64.2 million, and the company is expecting underlying sales in France to grow by 25% this year compared to 2020.

More:   US Postal Service OIG confirms EV deliveries viable