ISIN code
Trading location
Real Estate Holding&Development
Website address
Issuer website
IPO date
IPO type

Global Placement and Fixed-Price Offer</p>

IPO price
20.00 euros
IPO type
Initial Public offering
Operation procedure

Common conditions for Global Placement and Fixed-Price Offer - The final number of shares offered in the Placement and OPF will be determined depending of the nature of demand. If the demand in the Fixed-Price Offer allows it, the number of shares allotted to OPF will be at least equal to 10% of the total number of shares offered before exercise of the over-allocation option. - Indicative price: 20.00 euros Characteristics of the Global Placement - Number of share: 3 015 000 shares representing 90% of the total shares offered - Underwriters: Soci&eacute;t&eacute; G&eacute;n&eacute;rale Corporate &amp; Investment Banking Characteristics of the Fixed-Price Offer - Number of shares: a minimum of 10% of the total shares offered representing 335 000 shares</p>

Operation description
Operation calendar

New calendar - Period of the Placement: up to July 27th, 2006 (12:00) - Period of the Offer: up to July 26th, 2006 inclusive - First quotation: July 27th, 2006 - Beginning of trading under promises form: July 28th 2006 - From August 2nd, 2006: quoted under the title &quot;TESFRAN&quot; Consequently, the date of settlement/delivery of shares is planned on August 1st 2006 and the over-allocation option could be exercised, in whole or in part, until August 25th 2006.</p>

Broker to issue