A new market : Soditech fails its listing on the Stock Market
Listed on the Stock Market on November 29th with a value of 13.65 euros, the lowest price of the range, the council and engineering company of Sophia has nearly lost 16% the first day of its quotation.
A drop of 16% from the first day of its quotation : the company of Sophia, Soditech, specialized in council and high technology engineering, has failed for its listing on the new market. On Thursday November 30th, for the first day of its quotation, the share listed on the Stock Market the day before at the lowest price of the range already (13.65 euros) has fallen to 11.10 euros, a drop of 15.75%. However, it was listed while the American Nasdaq was plummeting, following another blow on technological stocks and shares.Soditech (with 420 employees spreaded out on seven sites and a turnover of 25 million euros) was established in 1990 by Maurice Caillé, engineer specialized in nuclear technology (CEA). The company, which head office has been set up in Cannes a long time ago expanded while working for the establishment Aerospatiale of Cannes, (now, Alcatel Space). Soditech, which has relied on the intention of large groups to diversify their research, keeps on working in satellites nowadays (36% of its activities). However, it has developed three other areas of competence : the aeronotics (structure, equipment, etc), the automobile (engine, and the energy ( petrochemistry, treatment of water).The listing on the Stock Market (586 080 shares and 7.9 million euros raised is linked with the intention of development for these four sectors. The group is aiming in this way to double its turnover concerning satellites next year thanks to Alcatel Space is facing in Cannes. A considerable progress is also expected in aeronotics with the launching of the program Airbus A3XX. For the energy and automobile branches, other acquisitions have been planned to keep up development. All these plans don’t seem to attract investors for the moment.