IPO of Belgian dredger DEME planned for June 30

Belgian dredger DEME may be listed on Euronext Brussels on 30 June, according to quarterly results of parent company CFE this Thursday 19 May morning.

The stock exchange listing is the result of the split-off of the CFE share. The shareholders have to give the green light for this movement on 29 June, and both majority shareholder Ackermans & van Haaren and Vinci (together accounting for 74.2 percent in CFE) have already expressed their support for the transaction. A three-quarters majority is required.

The exact date of the IPO will also depend on approvals by the regulator FSMA and the stock exchange operator Euronext.

The demerger from DEME was announced at the end of last year. Two separate listed companies are created: CFE and DEME Group, each with its own management and strategy. Shareholders also receive a share in the dredging company for every CFE share they own.

Belgian expertise

DEME is a world leader in the highly specialised fields of dredging and land reclamation, solutions for the offshore energy market, environmental and infra marine works. With more than 140 years of experience and 5,200 professionals, the company brings tailor-made solutions, innovation and new technologies to customers’ projects. 

Based in Belgium, DEME has a versatile and modern fleet of more than 100 vessels, supported by auxiliary equipment. 

(VIV)

© BELGA PHOTO (DIRK WAEM) DEME CEO Luc Vandenbulcke opens the Flemish Week at the Expo 2020 in Dubai last year.