(BFM Bourse) – To accelerate its development, the online driving school pioneer launches its IPO on Wednesday. Lepermislibre hopes to raise up to €10.6 million to eventually become the leader in driving education on a dematerialized platform.
After a poor year in 2022 in operations, Lepermislibre unlocks the counters for the IPOs of the year 2023. The pioneer of online driving schools claims a turnover multiplied by 7 between 2019 and 2021 and aims to become the French leader in online driving instruction. It is to finance the acceleration of its growth that Lepermislibre counts on the stock market to be several steps ahead of its competitors.
Lepermislibre has thus just launched its listing on the “Growth” segment of Euronext Paris, dedicated precisely to SMEs in the take-off phase who have come to seek the means to continue their growth. Open until 8 February, the operation aims to raise €8 million of fresh money (up to €10.6 million depending on the possibility of extension) from private and institutional investors.
Lepermislibre shares are therefore offered from this Wednesday morning at a fixed price of 3.83 euros until the evening of February 7, 2023 for individuals, institutions can participate in this fundraising until February 8 at 12:00. The company has already received underwriting commitments in the amount of 5.3 million euros, equal to 66% of the gross amount requested (i.e. 3.8 million euros from Eiffel Investment Group and 1.5 million euros from NextStage) .
A pioneer of online driving school
Presented as a pioneer of online driving school, the company intends to revolutionize learning the rules of the road and driving in the digital age. The company explains that it offers a training offer that “breaks with traditional players”, closer to the new uses and lifestyles of the generation that grew up with the development of digital technology. Lepermislibre is the first online driving school, approved by the state since 2014.
Obtaining the precious pink card is for some a real test for social and professional integration, which makes it the first exam before graduating from high school. There are therefore more than 1.2 million applicants who present themselves every year to obtain the precious sesame. The company therefore estimates this market at around 2.2 billion euros in France.
Become the French leader in driving education
Lepermislibre now considers itself ready to take a new step in its development. To achieve this goal, the company intends to pursue an articulated “offensive strategy”. around 3 main axes that he considers strategic: an acceleration of its national notoriety, a thickening of the geographical network and an enrichment as well as a diversification of its offer. The funds that will be raised on the occasion of this IPO will provide the company with the financial means necessary to implement its development strategy.
The roadmap presented by Lepermislibre should allow it to reach operating profitability (at EBITDA level) by the end of 2024 and to reach a turnover between 45 and 50 million euros from 2025 with a gross margin above 30% . The target presented by the company outsources a weighted average growth rate (CAGR) of approximately 40% annually between 2021 and 2025.
Sabrina Sadgui – ©2023 BFM Exchange