EnterNext [1] is pleased to welcome French car dealer Groupe Parot on Alternext Paris.

Group Parot dates back to 1978, when its founders purchased a small car dealership in Brive-la-Gaillarde in southwestern France. Today the family-owned business employs 650 people and is present nationwide with 32 dealerships across France. In addition to selling private cars and commercial vehicles, it offers maintenance, repair, financing, insurance and related services. In 2015 pro forma sales totalled €363 million. Having doubled in size from 2001 to 2014, it now seeks to maintain that momentum with strong, profitable growth in the years ahead.

Groupe Parot (ticker symbol: ALPAR) was listed through the admission to trading on 24 October 2016 of 3,874,072 shares, including 848,572 new shares issued under a Global Offering [2].

The admission price and issue price of Groupe Parot was set at €7.02 per share. Market capitalisation on the day of listing was around €27.2 million, and the IPO raised a total of €6 million.

Alexandre Parot, Groupe Parot’s Chairman and CEO, commented: “We would like to extend warm thanks to the institutional and individual investors that took part in our market debut, which marks the first listing of a car dealership group in France. The capital raised will allow us to step up the pace of our growth strategy by financing part of our external growth and our launch of an online platform.”