Nexi SpA. Nexi SpA is an Italy-based financial technology company. The Company is specialized in the payment technology field offering digital services and infrastructure to banks, businesses, institutions and the public administration.
  • TickerNEXI
  • ISINIT0005366767
  • SectorSupport Services
  • CountryItaly
Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/25/2020

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Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/06/2020

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Emmanuel Matot ...
  • Stephane Houri

Nexi S.p.A : Continuing gradual return to normal, M&A still a priority

>Volumes continuing to improve, but yet to return to growth, too early to provide guidance again on 2020 - We contacted Nexi for an update on transaction volume trends in the context of the release from lockdown in Italy, which accounts for 100% of the group’s business. The message is consistent with the stance conveyed at the end of Q1 2020 (EN / FR). Volumes continue to improve, but, not surprisingly, are still not in positive territory compared with last year. To r...

Emmanuel Matot ...
  • Stephane Houri

Nexi S.p.A : Le retour progressif à la normale se poursuit, le M&A est toujours une priorité

>Poursuite de l’amélioration des volumes, mais pas encore de retour à la croissance, trop tôt pour guider de nouveau sur 2020 - Nous avons fait le point avec Nexi sur l’évolution des volumes transaction dans le cadre du processus de déconfinement en Italie, qui représente 100% de l’activité du groupe. Le message reste cohérent avec celui passé à la fin du T1 2020 (EN / FR). Les volumes continuent de s’améliorer, mais, sans surprise, ne sont pas encore en hausse par ra...

Tony Lebon

Ingenico : Update of our recommendations on Worldline, Ingenico and Nexi, along with some comments on the Wirecard situation

In this report, we updated our recommendations on the issuers we cover within the payment services industry: - Ingenico: Buy on 2024 straight bond which offers an attractive pick-up compared with the Worldline bond (convergence of spreads). The 2022 CB is also interesting with regards to the upside potential on the Worldline stock. We maintain our Neutral recommendation on the 2021 bond. We are confident that the merger with Worldline will be completed; - Worldline: Buy maintained on...

Emmanuel Matot ...
  • Stephane Houri

Nexi S.p.A : Continuing gradual return to normal, M&A still a priority

>Volumes continuing to improve, but yet to return to growth, too early to provide guidance again on 2020 - We contacted Nexi for an update on transaction volume trends in the context of the release from lockdown in Italy, which accounts for 100% of the group’s business. The message is consistent with the stance conveyed at the end of Q1 2020 (EN / FR). Volumes continue to improve, but, not surprisingly, are still not in positive territory compared with last year. To r...

Emmanuel Matot ...
  • Stephane Houri

Nexi S.p.A : Le retour progressif à la normale se poursuit, le M&A est toujours une priorité

>Poursuite de l’amélioration des volumes, mais pas encore de retour à la croissance, trop tôt pour guider de nouveau sur 2020 - Nous avons fait le point avec Nexi sur l’évolution des volumes transaction dans le cadre du processus de déconfinement en Italie, qui représente 100% de l’activité du groupe. Le message reste cohérent avec celui passé à la fin du T1 2020 (EN / FR). Les volumes continuent de s’améliorer, mais, sans surprise, ne sont pas encore en hausse par ra...

Emmanuel Matot ...
  • Stephane Houri

Nexi S.p.A : Sale of 8.8% of the capital by the main shareholder

>Placement of 8.8% of the capital (55 million shares for € 841m) by the main shareholder, Mercury UK Holdco Ltd - Mercury UK Holdco Ltd., Nexi’s biggest shareholder with 52.12% of the capital, announced yesterday evening that it plans to sell around 55 million shares, or 8.8% of the capital, through an accelerated bookbuilding procedure. The value of the transaction would be around € 841m at the current share price. Mercury UK Holdco Ltd. is a vehicle owned by invest...

Emmanuel Matot ...
  • Stephane Houri

Nexi S.p.A : Cession de 8.8% du capital par le 1er actionnaire

>Placement de 8.8% du capital (55 millions d’actions pour 841 M€) par le 1er actionnaire, Mercury UK Holdco Ltd - Mercury Uk Holdco Ltd., 1er actionnaire de Nexi avec 52.12% du capital, a annoncé hier soir vouloir céder environ 55 millions d’actions, soit 8.8% du capital, par le biais d'une procédure de bookbuilding accélérée. La valeur de cette transaction serait d’environ 841 M€ au cours actuel. Mercury Uk Holdco Ltd. est un véhicule des sociétés d'investissement B...

Emmanuel Matot ...
  • Stephane Houri

Nexi S.p.A : A merger between Nexi and SIA is the most likely scenario in our view

>Nexi’s share price gained 11% at the end of last week, closing in on all-time highs - Nexi performed particularly well last week (+11% between Wednesday and Friday), € 1 off its all-time high, amid still-favourable newsflow in the payment sector. This momentum was driven by a Bloomberg article which stated that Nexi and SIA were stepping up merger talks (link to article). According to the article, managers from the two companies had met and asked advisors to analyse ...

Tony Lebon

Ingenico : Update of our recommendations on Worldline, Ingenico and Nexi, along with some comments on the Wirecard situation

In this report, we updated our recommendations on the issuers we cover within the payment services industry: - Ingenico: Buy on 2024 straight bond which offers an attractive pick-up compared with the Worldline bond (convergence of spreads). The 2022 CB is also interesting with regards to the upside potential on the Worldline stock. We maintain our Neutral recommendation on the 2021 bond. We are confident that the merger with Worldline will be completed; - Worldline: Buy maintained on...

Tony Lebon

Ingenico : Update of our recommendations on Worldline, Ingenico and Nexi, along with some comments on the Wirecard situation

In this report, we updated our recommendations on the issuers we cover within the payment services industry: - Ingenico: Buy on 2024 straight bond which offers an attractive pick-up compared with the Worldline bond (convergence of spreads). The 2022 CB is also interesting with regards to the upside potential on the Worldline stock. We maintain our Neutral recommendation on the 2021 bond. We are confident that the merger with Worldline will be completed; - Worldline: Buy maintained on...

Tony Lebon

Nexi S.p.A : L’acteur clé pour jouer la fin de l’exception italienne dans le paiement (étude cross asset equity-crédit)

>Recommandation Neutre sur les obligations Nexi 2024 - Nexi domine le marché italien du paiement électronique. Il devrait bénéficier d’une croissance régulière sur un marché anormalement sous-pénétré (85% des transactions encore en cash), bien équipé en TPE et où le gouvernement prend de nombreuses mesures pour réduire l’usage du cash. De potentielles bonnes surprises (non intégrées à nos prévisions) liées à l’accélération de la pénétration du paiement électronique so...

Tony Lebon

Nexi S.p.A : The key mover to play the end of the Italian exception in payments (equity-credit cross-asset report)

>Neutral recommendation on Nexi 2024 bond - Nexi is a dominant force in the Italian electronic payments market. It should see steady growth on a market where penetration levels are unusually low (85% of transactions are still in cash) and which is very well equipped in POS terminals. The government is also taking a range of measures to reduce the use of cash. Potential positive surprises (not factored into our forecasts) are therefore possible as the penetration of el...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 10/10/2019 - Nexi - EN

Nexi (O/P): Bond Refinancing Banking Sector: Increasing Importance of ESG Criteria Unicredit (O/P): Will Tax Deposits Over €100.000 In 2020 Crédit Mutuel Arkéa (O/P) : Had To Inject €540m In Its Life Insurance Unit Suravenir LVMH (O/P) - 9M19: Revenues Of €38.4bn (+15.9%,+11.0% LfL) Bourbon: Receives Takeover Offer AT&T: To Sell Assets In Puerto Rico For $2,0Bn Codere (U/P): Reduces Its EBITDA Forecast For 2019 By €20m

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/25/2020

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/06/2020

...

Anthony Dick ...
  • Emmanuel Matot
  • Jerôme Bodin
  • Michael Foundoukidis
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/27/2020

...

Anthony Dick ...
  • Emmanuel Matot
  • Jerôme Bodin
  • Michael Foundoukidis
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 27/05/2020

...

Anthony Dick ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Michael Foundoukidis
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/25/2020

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Expert Corporate Governance Service (ECGS)

Nexi – EGM 26 June 2020

Nexi SpA (formerly Istituto Centrale delle Banche Popolari Italiane r"ICBPI") is an Italian financial technology company established in 2016. It is specialized in the payment technology field, offering digital services and infrastructure to banks, businesses, institutions and the public administration. Nexi shares have been listed on the Italian Stock Exchange since April 2019.The EGM is called to approve the convertibility of a bond issue denominated "€500'000'000 1.75 per cent. Equity Linked Bonds due 2027", as well as the authorization to increase the share capital by maximum 4.1% to servi...

Expert Corporate Governance Service (ECGS)

Nexi – AGM 5 May 2020

Nexi SpA (formerly Istituto Centrale delle Banche Popolari Italiane -"ICBPI") is an Italian financial technology company established in 2016. It is specialized in the payment technology field, offering digital services and infrastructure to banks, businesses, institutions and the public administration. Nexi shares have been listed on the Italian Stock Exchange since April 2019.   In item 2.1, shareholders are called to a binding vote on the remuneration policy. The quality of disclosure is in line with market practice in Italy, the CEO's base salary is in line with the median of peers and, i...

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