Founded in 1992, Gold by Gold draws on expertise at every stage in the gold supply chain, from mining and purchasing to refining and resale. The company deals in three main areas: it trades gold produced in traditional Andean mines in South America, which it resells to international buyers, primarily based in Europe. It also recycles gold that it purchases in France from individuals and professionals using several different networks (an Internet site, shops and home purchases). This gold collection business is rounded out by a refining unit that is fully integrated into Gold by Gold, guaranteeing full traceability of the gold it produces.
Gold by Gold (ticker: ALGLD) was listed through admission to trading of 2,295,000 existing shares and 438,612 new shares issuedunder a Global Offeringafter the partial exercise of the Extension Option. The Global Offering raised a total of €3.1 million.
The admission and issue price of Gold by Gold shares was set at €7.15. Market capitalization stood at €19.5 million on the day of listing.
“We are delighted to welcome Gold by Gold to NYSE Alternext,” said Marc Lefèvre, Head of European Coverage at NYSE Euronext. “Listing will increase the company’s equity and allow it to participate actively in a market offering high growth potential and favourable conditions given rising gold prices and volumes.”
Patrick Schein, Chairman, CEO and founder of Gold by Gold, added: “I would like to thank our institutional and individual investors for the trust they have demonstrated by taking part in Gold by Gold’s listing at a time when the economic and market environment is less than buoyant. I am particularly pleased at the interest shown by individual investors: Gold by Gold’s shareholders now include many private individuals, which is good for liquidity. We will use the capital raised to step up the development of our divisions and pursue our strategy of ‘virtuous’ growth.”
In six years, €2.6 billion has been raised on NYSE Alternext, half through secondary issues, by companies from countries including Belgium, Canada, China, France, Italy, Luxembourg, the Netherlands, Spain, the UK and the US. Their market capitalisation totals €5.9 billion. Today 181 companies are listed on NYSE Alternext.
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About Gold by Gold
The Global Offering was made up of an Open Price Public Offering and a Global Placement with institutional investors in France and other countries.