Bryan, Garnier & Co acts as Lead Manager and Sole Bookrunner on ASK’s EUR 22m IPO on Euronext

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Paris, July 1st, 2014 – Bryan, Garnier & Co, the European Growth Investment Bank, today announces the success of the Initial Public Offering of ASK, one of the industry pioneers of secure contactless solutions to the identity and mass transit sectors, on Paris Euronext (Compartment C) under the ticker symbol “ASK”. Bryan, Garnier & Co acted as Global Coordinator, Lead Manager and Sole Bookrunner on the IPO.

Founded in 1997, ASK is a world pioneer in the development of contactless smart cards solutions based on a unique portfolio of patented technologies. After a first phase of significant investments in the development of its technologies and the establishment of an international production capacity with facilities in Europe, the USA and Asia, the company has introduced its secure contactless solutions to both the identity and the transportation markets. The company has gradually become the reference in the industry, and one of the few suppliers in the world of the new generation of contactless secured passports to the US, the UK, Israel, France, Greece or the Philippines amongst others. London with its Oyster Card, or Paris with the Navigo Pass, but also more than 100 leading cities and transit authorities around the world such as Dubai, Chicago, Sidney or Singapore have integrated its technologies combining secured payment and efficient control flow of passengers. As a result, the company has doubled its revenue during the past four years and improved its EBIT from -15m€ in 2011 to break-even in 2013.

With unparalleled client references on a worldwide basis and an optimised industrial capacity, the company has completed its IPO on Euronext, raising 22m€ to consolidate its technology leadership and expand its global sales and marketing capacity.

Bryan, Garnier & Co, which backed the company as early as 2002 by leading a 16m€ private placement of venture capital, acted this time for the IPO as Global Coordinator, Lead Manager and Sole Bookrunner. Portzamparc, the affiliated small & mid-cap broker of BNP Paribas, was Co-lead Manager and Placement Syndicate Member. The company attracted close to 50 institutional investors which represented 80% of the total gross proceeds, while individual investors subscribed the remaining 20%.

Olivier Beaudouin, Partner and Head of the Technology Group at Bryan Garnier stated: “This IPO is a clear demonstration of Bryan, Garnier & Co commitment to provide long term support to growth technology companies, at each stage of their development. When ASK was a buoying start-up, we led for it one of the largest venture capital rounds in Europe to finance its R&D effort. More than ten years later through this IPO, we provide the company with the means to accelerate its global expansion and establish itself as the leading provider worldwide of contactless solutions in the identity (“e.ID”) and transport markets.”

Greg Revenu, Managing Partner at Bryan Garnier, commented: “We are very proud of the success of ASK’s IPO and the level of interest shown by institutional investors in spite of a very competitive IPO environment: More than 1,4bn€ were raised in IPOs that very same day on Euronext Paris, representing close to 45% of the total amount raised in IPO on Euronext Paris since January 2014. In this environment, our international placement capabilities and the reputation of our technology franchise have been key to the success of the transaction.”

Julien Zuccarelli, CEO of ASK, stated: “ASK’s IPO was an important milestone for the company. It was fundamental to rely on a highly committed team with a deep understanding of our business, and Bryan Garnier has offered us a very high standard of support all along the process. Their deep acquaintance with institutional investors has been instrumental in competing in a crowded IPO market. The funds raised will enable us to foster the development of our double-digit growth markets.”

About ASK 

ASK provides secure contactless solutions for sensitive applications linked to individuals. Founded in 1997, ASK has developed patented technology based on a unique silver printing process. It creates genuine solutions to the security and reliability challenges of its markets. ASK offers a full range of contactless cards and inlays (electronic covers and integrated antennas) for passports, transport cards, tickets, terminals, operating systems and personalisation services.

ASK’s an innovative technology and global organisation, with manufacturing units in Europe (France), Asia (China) and the USA, make it the reference player in secure contactless solutions for identity (e.ID) and transport markets. In e.ID, since 2006 ASK has worked with top global customers, providing inlays for US, UK, French, Israeli, Philippine and other passports. On the transport market, ASK has strengthened its leadership position since 2001, assisting over 103 cities including Atlanta, Chicago, Dubai, Lisbon, London, Mexico City, Miami, Paris, Singapore, Sydney and Tel Aviv, in 27 countries.

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