Identification
Listing sponsor / Agent

<p>
Avenir Finance Corporate</p>

Symbol
ALMAX
ISIN code
FR0004174233
Exchange / Market
Euronext Growth
Trading location
Paris
Products family
Funds
ICB
Media Agencies
Issuer website
http://www.maximiles.fr
Operation
IPO date
IPO type

<p>
Global Placement and Open Price Offe</p>

IPO price
8,05 euros
IPO type
Initial Public offering
Catégorie
IPO
Operation procedure

<p>
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: 890 505 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: Gilbert Dupont The Open Price Offer Number of shares in the OPO: 98 945 shares (10% of the total number of shares offered before the exercise of the extension clause). 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 29, 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.</p>

Operation description
Operation calendar

<p>
- Period of the Global Placement: from 20 June to 29 June 2005 (12h00) - Period of the Offering: from 20 June to 28 June 2005 inclusive - Date of first listing: 29 June 2005 - Result of the Global Placement and Open Price Offer: 29 June 2005 - Beginning of trading: 5 July 2005</p>

Price range
7,73 euros - 8,37 euros