Linedata: renewed speculation about delisting
The share is currently up over 7%, one of the biggest gains on the Paris market, while the CAC Mid & Small index is down 0.7% at the same time.
In a note published this morning, Antoine Curchod, manager at La Française AM, points out that the software publisher for asset management, fund administration and insurance could be a potential candidate for delisting.
"Indeed, the company carried out a public stock buyback tender offer at the end of last year", recalls the professional, pointing out that the concert formed by the CEO and Amanaat owns 74.95% of the capital and 83.17% of the voting rights.
The manager adds that Linedata has a rather defensive profile in the current environment, due to its recurring revenues, as well as a reasonable valuation, with a 12-month P/E of 10.2x.
These comments appear in a Euroland note dedicated to Linedata and entitled 'Nugget of the week'.
Every Monday, the Paris-based brokerage firm highlights in its newsletter a small- or mid-cap on the Paris stock exchange favored by sell-side managers.
Buoyed by speculation about a possible delisting, Linedata's share price has risen by more than 30% over the past 12 months.
Last Thursday, the share gained more than 2% following the presentation of half-year results, which saw the company confirm its objective of organic growth and improved profitability in the second half.
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