ISIN code
Exchange / Market
Euronext Growth
Trading location
Products family
Website address
Issuer website


IPO date
Thu 23/06/2005
IPO type

Global Placement and Open-Price Offer

IPO price
10,20 euros
IPO type
Initial Public offering
Operation procedure

The placement Before first listing, a proportion of the shares will be included in a public placement in France and an international private placement in some countries excluding the United States of America. Number of shares in the Placement: 351,173 shares (90% of the operation before the extension clause). In order to increase the placement, the number of shares offered within the open-Price Offer may be reduced (if the OPO would not be fully subscribed). Underwriters: Banque Palatine The Open-Price Offer Number of shares in the OPO: if demand in the OPO allows it, the definitive number of shares allocated in the OPO is at least equal to 10% of the total number of shares offered before the exercise of the extension clause (i.e. 39 019 shares). In order to increase the Open-Price Offer, the number of shares offered within the placement may be reduced. However that number of shares offered in the Open-Price Offer will not exceed 20% of the total number of shares disseminated to the public. Conditions applying to both Global Placement and Open-Price Offer The first share price will be set at the end of the OPO and will take account of the demand expressed in the global placement. The prices of the global placement and the OPO are the same. The definitive price will be set on June 23rd, 2005 after centralisation of the OPO and should be published by Euronext Paris in a notice that same day. The final share price may be set outside the aforementioned range. Should the price of admission be under EUR 8.80, the number of shares proposed would be modified and the Autorité des Marchés Financiers would have to deliver another visa on a new prospectus giving the new terms and conditions of the Offer(Placement and OPO).

Operation description

Admission on Alternext the 1,218,674 existing shares that comprise the equity of HARVEST at the day of the admission and a maximum of 110,000 new shares that will be issued in the admission framework and 6,700 new shares reserved to employees effected as part of the listing and a maximum of 16,060 new shares coming from a possible BSPCE conversion.

The admitted shares, which par value is 1.00 euro per share, will represent the total equity and voting rights in the Company and will be participating from 1st January 2005. Since the admission, the shares will be either in bearer form, or in registered form at the choice of the shareholder.

390,192 shares will be offered to the public as part of a global placement and an open-price offer (OPO). The shares will be obtained from the issue of a maximum of 110,000 shares as part of a capital increase permitted by the general meeting on June 9th, 2005 and to be realised with the listing and decided by the board of directors on June 9th, 2005 and from the selling of 280,192 existing shares by some HARVEST shareholders.

If the capital increase is not subscribed to a minimum of 75% OPO orders will be cancelled.

Extension clause: According to the importance of the demand, the board of HARVEST and Banque Palatine in charge of the placement, could decide to increase the number of shares initially offered in the placement up to 58,528 existing additional shares (around 15% of the number of shares initially proposed in this operation). This decision should be made at the latest when the price of the shares is fixed in the OPO and the global placement, ie June 23rd, 2005.

Operation calendar

- Period of the placement: from 15 to 23 June 2005 (12:00) - Period of the Offering: from 15 to 22 June 2005 inclusive - Date of first listing: 23 June 2005 - Result of the Global Placement and Open Price Offer: 23 June 2005 - Beginning of trading: 29 June 2005

Price range
8,80 euros - 10,20 euros