Lepermislibre, a French specialist in online driving lessons, fell sharply on its first day of trading on Monday.

The Lyon-based company, which aims to become France's leading provider of driving lessons, was down 13.8% at midday after being suspended from trading on several occasions.

The reference price had been set at 3.83 euros per share, valuing the company's market capitalization at around 46 million euros following the operation.

The IPO was carried out via the admission to trading of the 11.98 million ordinary shares making up the company's share capital, plus 2.07 million new shares.

The total value of the offering is around eight million euros, a sum that should enable the company to raise its profile, intensify its geographical coverage, strengthen its network of teachers and enhance its services.

Since 2019, the growth of the company - which offers candidates digital methods for learning and revising the Highway Code - has been particularly sustained.

Lepermislibre is aiming to achieve a positive operating result in 2024, followed by sales of between 45 and 50 million euros in 2025.

Its structure currently relies on more than 900 state-qualified teachers who deliver courses through 1,500 meeting points in more than 500 towns in France.

This formula has already attracted more than 400,000 candidates, thanks to prices that are 30% lower than at traditional driving schools.

Copyright (c) 2023 CercleFinance.com. All rights reserved.