GROUPAMA WILL FLOAT BETWEEN 25% AND 49.9% OF CAPITAL, SAYS CFO

French mutual Groupama is likely to float between 25% and 49.9% of its capital when it lists on the stockmarket in 2005 or 2006, CFO Helman le Pas de Sécheval has noted in interview with L’Agefi daily. The final stake to be offered to the market has not yet been finalised, though “the regional [businesses] will keep control”, Mr le Pas de Sécheval noted. In order to offer itself to investors, Groupama first needs to achieve return-on-equity (ROE) of between 10% and 10.5%. Currently its ROE stands at 8.8% when calculated on the same basis as its competitors.