Oberthur Planning IPO in Paris (Oct. 20, 2015)
Paris-based global card manufacturer Oberthur Technologies is planning to go public in what its owner, private equity firm Advent International Corp., is saying will be the largest technology IPO in Europe this year, according to reports. Advent acquired Oberthur in 2011 for €1.15 billion (US$1.3 billion).
Oberthur Technologies has registered with French authorities for an IPO on the Euronext Paris exchange. The decision to go public reportedly follows offers from private equity firms Carlyle Group and Eurazeo, which valued Oberthur at approximately €2 billion (US$2.3 billion), to buy the company.
Advent, along with private equity firm Bain Capital, also owns U.K.-based payment processor Worldpay, which was listed on the London Stock Exchange earlier this month. Worldpay’s IPO is considered this year’s largest in Europe. Also this month, Atlanta-based payments processing and technology company First Data set a record for this year’s largest U.S. IPO.