Franklin advises TaTaTu S.p.A. in connection with its initial public offering on Euronext Growth Paris
Franklin has advised TaTaTu S.p.A., incorporated under Italian law and a pioneer of the new generation of social networks, in connection with the initial public offering on Euronext Growth Paris, subsequent to a private placement, alongside Italian law firm Legance.
TaTaTu’s S.p.A. innovative approach, developed since 2020 by Andrea Iervolino, a movie producer, consists in sharing the value created with users, whenever they interact on social networks through the company’s platform; to this end, users are rewarded with TTU Coins each time they respond to another user activity (e.g. like), post or share contents, thereby laying the foundations of a circular economy. TTU Coins are virtual currency, to be spent in the real economy (so far, on TaTaTu’s e-commerce platform or to take part in biddings thereof). The company has generated 47,4 million euros of revenues in 2021, with a market capitalization of 1,6 billion euros according to the price per share set for the initial public offering on October 19, day of commencement of the negotiations.
On this operation, Franklin has advised TaTaTu with regard to French stock exchange regulations and corporate law matters with a team led by Lionel Lesur, partner, and Adriana Chiche, associate, and including Stéphan Alamowitch, partner, and Mathilde Monot, associate.
Legance has assisted TaTaTu S.p.A. over the whole operation, with a team led by Marco Gubitosi, partner, and Marzio Ciani, senior counsel, also including Andrea Palatini and Sofia Rainaldi, associates.
White & Case has advised Portzamparc, listing sponsor of TaTaTu S.p.A., BNP Paribas, acting as equity advisor thereof, with a team led by Thomas Le Vert, partner, Boris Kreiss and Julien Gerson, associates.