English translation: is opening 25% of its share capital to outside investors
Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.
08:18 Oct 22, 2000
French to English translations [PRO] Bus/Financial
French term or phrase:ouverture de capital
Come&Stay, ASP marketing spécialisé dans la connaissance-client et la communication micro-ciblée, procède à l'ouverture de 25% de son capital dans le cadre de son second tour de financement.
.... is disclosing 25% of its stock in a second capital raising transaction"
Any better suggestions? They'll hang me if I write that...
opening of capital ; opening up of share capital ; increase in authorized share capital (here)
Explanation: Taking France Telecom as an example, you will find that this is referring to the share capital of the company in question. There were lots of hits for 'ouverture du capital' from a search on the FT site. (www.francetelecom.fr/recherche/f_recherche.html)
Here's an extract from an FT press release whose title includes 'ouverture du capital' which it describes as
- "la mise sur le marché d'une Xème tranche du capital de FT"
- "l'augmentation du capital".
An "ouvertue du capital" would thus appear to cover two possibilities : the putting onto the market (issue) of share capital and/or increase in share capital (authorized capital).
Like Gillian, I checked the EuroDicAutom which gave "ouverture (partielle) du capital" (move to bring new shareholders), which is useful and interesting. It strikes me as an explanation rather than a translation.
I am afraid that I just don't get the use of "discolsure" here. Disclosure of capital as I understand it has nothing to do with share issues. I thought that it was to do with the declaration of financial interests by people in influential positions where certain rules may require individual interests to be disclosed (in the sense of 'divulguer'), for example. A quick websearch on AltaVista for disclosure+capital gave 5 hits. None appeared to have anything to do with equity financing.
A couple of suggestions :
"...is opening up 25% of its share capital in the second round of its financing programme".
"...is making a 25% increase in its authorised share capital in the second phase of its equity financing plan".
... is placing 25% of its stock on the market in its second public offering"
Explanation: I would have liked to say, "is offering 25% of its stock (or 'shares' would be fine also)...", but the redundancy of "offering" twice in the same phrase was bothersome.
"Public Offering" refers to the issuance of debt or equity in capital markets, but especially resonates in conjunction with the term "Initial Public Offering" of equity, and would be a logical follow-up in a "second round of financing"!