De Pardieu scoops its first float on Alternext

French independent De Pardieu Brocas Maffei has advised on the first listing on Euronext’s new exchange Alternext, which aims to rival London’s AIM.

Partner Frédéric Bucher led the De Pardieu team advising internet credit company Meilleurtaux on the transaction, which took place on Alternext’s launch day on 17 May.

Meilleurtaux’s listing was valued at e45m (£30.9m). De Pardieu was the sole legal adviser for both the company and its shareholders, comprising Ventech, Galileo Partners and Rothschild Investment Partners. The company is a new client for the firm.

Avenir Finance Corporate, the listing sponsor, equivalent to a nominated adviser on AIM, did not instruct lawyers.

Since Meilleurtaux’s listing, two more companies – CBo Territoria and independent power company Poweo – have also floated on Alternext.

Bucher said: “It’s a complete IPO, but it’s more simple in certain aspects.”