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Douglas : IPO is coming now
We give up our resistance on the name, which was so far driven by our concerns around the cap structure, the cash flow profile and a weak consumer sentiment. The assumed capital increase will cure the first two concerns, the latter never materialised: we change our credit opinion to Positive (vs. Negative) and adopt Buy recommendations on the SSNs and the PIK notes (vs. Reduce). - We are certain that the IPO will be announced shortly. This is unconfirmed by Douglas, but there are ...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Markus Schmitt
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