Listing sponsor / Agent

Avenir Finance Corporate</p>

ISIN code
Exchange / Market
Euronext Growth
Trading location
Personal Goods
Website address
Issuer website
IPO date
IPO type

Global Placement and Open Price Offer</p>

IPO price
12,73 euros
IPO type
Initial Public offering
Operation procedure

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 April 13th, 2006 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 mentioned range. 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. - Underwriter: IC BOURSE - Number of shares in the Placement: 295,607 shares (70% of the Offer) The Open Price Offer - Number of shares in the OPO: 126,690 shares (30% of the Offer) Depending on the demand, the breakdown between the Placement and the OPO may be adapted as stated below: - However that number of shares offered in the Open-Price Offer will be of 30% minimum of the total number of shares disseminated to the public. - 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).</p>

Operation description
Operation calendar

- Period of the Placement: from April 3rd, 2006 to April 13th, 2006 (12:00) - Period of the OPO: from April 3rd, 2006 to April 12th, 2006 inclusive - First quotation: April 13th, 2006 - Beginning of trading: April 21st 2006</p>

Broker to issue

IC Bourse</p>