France wants 10 French unicorns listed in 2025
It was during an event organized by Euronext that the minister delegate made his announcements. Despite an unprecedented crisis affecting the world of tech, Jean-Noël Barrot wants to bet on the financial future of French unicorns. However, for six months, fundraising is increasingly rare and the amounts, less and less high. The economic downturn has chilled investors. Regarding the stock market, it’s the same thing: technology stocks are mistreated.
As Jean-Noël Barrot explains, “ For the past five years, France has been bringing out very strong growth companies, on a European, if not global, scale. We want them to be able to continue their growth in France, to continue to recruit “. He is convinced that only going public will allow them to support their development. It must be recognized that the higher their valuation, the more it is difficult for private funds to follow for new funding rounds.
The Minister Delegate sets the target of 10 IPOs by 2025 for French unicorns. He would like these to be done mainly within the index Euronext Tech Leadersa new market aimed at welcoming and showcasing high-growth companies in the technology sector “. A kind of European Nasdaq. With this initiative, the French government wants to ensure that all the conditions are met ” when the momentum picks up “.
To facilitate the IPO of French unicorns, the Minister Delegate presented several measures: nearly one billion euros will be mobilized to support IPOs. For this, the government can count on Bpifrance and the Caisse des dépôts. The Minister for the Digital Transition also proposes the establishment of “ preference shares with multiple voting rights for listed companies “. A way for founders to keep control of their business.
Other support systems should allow French start-ups easier access to the stock markets. According to Jean-Noël Barrot, the evolution of the valuations of companies listed today on the Euronext Tech Leaders index is comparable to that of these valuations of companies listed on Nasdaq.