GROUPAMA MAKES FLOTATION PREPARATIONS

France-based insurer Groupama has completed further preparations for its Paris Bourse flotation in 2007, when between 20% and 25% of the company’s stock will go into free float. Shareholders on Friday backed several pre-flotation measures.The directors were granted certain discretionary powers with a view to a capital increase. Groupama has said that it hopes to undertake one or more acquisition before it floats. The regional divisions of which Groupama is currently structured will continue to hold at least 51% of share capital after the flotation.