PARIS: Euronext congratulated 2MX Organic, company founded by Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari aimed at realizing acquisitions in the production and distribution of sustainable consumer goods, for its listing on the professional compartment of Euronext’s regulated market in Paris (ticker code Shares: 2MX, ticker code Warrants: 2MXBS).
2MX Organic was listed through the admission to trading and direct listing of 30,000,000 preference shares and 30 warrants stock warrants, after the exercise of the Extension Clause. The placement was issued to qualified investors, for €10 per unit. The total amount raised was €300 million.
The ambition of the three founders is to build a new major European player in the sustainable consumer goods sector.
Through the creation of 2MX Organic, Xavier Niel, Matthieu Pigasse and Moez-Alexandre Zouari combine their complementary expertise and know-how to serve a shared ambition: to enable European consumers to consume better, at an affordable price, in sufficient quantities and in complete safety.
2MX Organic is thus founded with the aim of acquiring one or more companies operating in Europe with strong social and environmental responsibility, mainly involved in the production and distribution of consumer goods.
The company takes the form of a SPAC, an investment company specialised in raising capital on the stock market with the aim of making acquisitions within 12 to 24 months.
The SPAC is an innovative vehicle that adopts the investment and management mechanisms of private equity funds, while offering investors the guarantees provided by the stock exchange: transparency, information and regulation. This is the second French SPAC introduced in Paris, following the creation of Mediawan in 2016 by Xavier Niel and Matthieu Pigasse.
During 2MX Organic’s virtual IPO celebration, founder and CEO Moez-Alexandre Zouari said: “We want to invent the distribution model of tomorrow starting from scratch, putting the consumer at the centre and building an alternative model. With 2MX Organic, we want to create the Tesla of responsible consumption: a benchmark player that transforms the market and becomes a champion of sustainable consumption.”
Xavier Niel, founder and member of the board of directors, commented: “Lifestyles and consumption patterns are changing under the impact of three crises: economic, energy and health. In the face of this situation, with 2MX Organic we want to promote the transition to a new world where Europeans can consume better, at an affordable price, in sufficient quantities and in complete safety.”
Matthieu Pigasse, founder and member of the board of directors, commented: “2MX Organic is the largest IPO on the Paris Stock Exchange in 2020 and we are very proud and honoured by the interest it has generated. Thanks to the support of our investors, we will be able to make an initial acquisition of between €1.5 and just over €2 billion. Others will follow, with the common ambition to better meet the expectations of European consumers.”
2MX Organic is a new player created for the purpose of acquiring targets with main operations in the production and distribution of socially and environmentally responsible consumer goods.
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