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French delivery company Colis Privé gets IPO document cleared

PARIS, June 14 (Reuters) - French parcel delivery company Colis Privé said the country’s markets watchdog had approved its initial public offering (IPO) registration document, marking the first step for a listing on Euronext’s Paris stock exchange.

The group, which did not provide a fundraising target or a detailed description of its shareholding structure, wants to expand overseas, starting with Belgium, Luxemburg and Morocco.

U.S. E-commerce giant Amazon is Colis Privé’s main customer and holds 9.65% of its shares, the French company said.

Colis Privé’s full-year revenue grew by 46% in 2020 from a year earlier to 233.8 million euros ($283 million). Earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 94% over the same period to 21.5 million euros.

Colis Privé said its first-quarter sales jumped by 58% from a year ago to 64.2 million euros, and it expected underlying sales in France to surge by 25% this year from 2020.

$1 = 0.8260 euros Reporting by Gwénaëlle Barzic and Mathieu Rosemain Editing by Sudip Kar-Gupta

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