Somfy is considering a withdrawal from the stock market

Somfy is considering a withdrawal from the stock market

The company is the subject of a takeover bid by minority shareholders from the Despature family.

The manufacturer of roller shutter motors and home automation Somfy is considering a withdrawal from the stock market after the operation to buy back the shares it did not already hold, launched in November by its main shareholder, the company said Monday evening. “The free float of the Somfy share is reduced to 14.97% of the capital”indicates a press release released Monday evening by the group, world leader in the automation of openings and closings of the house and the building. “The fact that the free float represents less than 15% of the capital should lead to the forthcoming exit of Somfy’s share from certain stock market indices to which Somfy currently belongs”the statement added.

Somfy (Société d’Outillage et de Mécanique de Faucigny), a family company founded in 1969, is the subject of a public takeover bid by minority shareholders from the Despature family, its main shareholder since 1984, at a price of 143 euros per share. The offer is open until January 12. “The concert composed of members of the Despature family held, as of January 6, 2023, 78.15% of the capital and 86.31% of the voting rights, and taking into account the treasury shares representing 6.89% of the capital, 85.03 % of the capital and 90.55% of the voting rights”the statement said.

The Somfy group was bought in 1984 by the Despature family, an old family in the Roubaix textile industry, heir to the textile company Damart. Somfy was listed on the stock market in 2002. The group’s activities range from roller shutter motors to anti-intrusion devices, including connected thermostats, alarms and motion detectors.

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