Rexel stock funds GCG deal after EUR 500 million raise

Published on 10/05/2026 at 20:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rexel stock was last at EUR 35.22 on October 5, 2026, after a EUR 500 million share issue. H1 sales reached EUR 9,988.9 million, up 5.1 percent.

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Rexel stock (ISIN FR0010451203) was last at EUR 35.22 on Euronext Paris on October 5, 2026, at 5:35 p.m. CEST, down 0.45 percent on the session. The electrical distributor has completed a EUR 500 million capital increase to help finance its planned acquisition of US infrastructure specialist GCG.

GCG deal gets equity funding

According to GlobeNewswire on September 29, 2026, Rexel placed 14,388,490 new shares at EUR 34.75 each. The issue represented 4.6 percent of the share capital before the transaction and used the same ISIN as the existing shares.

The proceeds support the acquisition of GCG, which Rexel announced on September 25, 2026. Rexel said GCG is expected to generate more than USD 1.1 billion of revenue in 2026 and carries an expected EBITA margin of 11 percent. The transaction has an enterprise value of USD 1.4 billion and is scheduled to close by the end of 2026, subject to customary conditions.

H1 figures strengthen the case

Rexel generated EUR 9,988.9 million of sales in the first half of 2026, with comparable growth at constant days of 5.1 percent. According to Trivano, adjusted current EBITA rose 9.8 percent to EUR 614.8 million and the adjusted EBITA margin reached 6.2 percent.

Net income increased 30.8 percent to EUR 342.1 million in H1 2026, while free cash flow before interest and taxes rose 94.5 percent to EUR 247.3 million. Net financial debt stood at EUR 3,321.9 million at June 30, 2026, a factor that makes the equity component of the GCG financing strategically important.

Consensus target stays above price

Marketscreener lists an Outperform consensus from 13 analysts, with an average target of EUR 41.36 and a spread of 15.25 percent above its listed last close. The consensus target is EUR 6.14 above Rexel's October 5 price, equivalent to 17.43 percent above the stock's last traded level.

That gap places the financing plan beside a clear execution test: Rexel must convert GCG's higher-value infrastructure exposure into growth while preserving the balance-sheet discipline described in its capital increase announcement.

Rexel stock stays below yearly high

Rexel stock was last at EUR 35.22 on October 5, 2026, against a 52-week range of EUR 27.41 to EUR 39.80. Its market capitalization was EUR 10.4 billion, and volume reached 624,626 shares on Euronext Paris.