Avantium raises € 103 million in successful IPO
Amsterdam – 15 March 2017 – Euronext Amsterdam and Euronext Brussel today welcomed Avantium (ticker code:AVTX), a leading chemical technology company and forerunner in renewable chemistry. The listing follows the company’s successful Initial Public Offering (IPO), with a total offering of € 103 million.
After opening, the first market price was € 11.65. Based on the first price, the total market capitalization of the company was around € 310.4 million.
Avantium is a leading chemical technology company and a forerunner in renewable chemistry, developing efficient processes and sustainable products made from biobased materials. One of Avantium’s success stories is the YXY technology to produce PEF: a completely new, high-quality plastic made from plant-based industrial sugars. PEF is 100% recyclable. It offers a cost-effective solution for applications ranging from bottles to packaging film and fibres, positioning it to become the next generation packaging material.
Tom van Aken, Chief Executive Officer of Avantium, said: “The listing on Euronext Amsterdam and Brussels is an important milestone for our company. It will support us in effectively implementing our ambitious strategy going forward and enables Avantium to capture the market opportunity driven by the increasing demand for renewable chemicals and materials and increasing consciousness around sustainable products and production methods. The strong demand from both institutional and retail investors is overwhelming and the high level of support gives us confidence for our future as a listed company. We look forward to execute our strategy going forward with our new shareholders.”
To celebrate the successful IPO and listing, the CEO of Avantium sounded the gong in Amsterdam to open trading on Euronext’s markets. Avantium finishes this day at Euronext Brussels to celebrate their dual listing in Brussels with the closing bell.
CONTACTS
Euronext
Alice Jentink: +31 20 721 4488; ajentink@euronext.com
Rosanne de Boer: +31 20 721 4117; rdeboer@euronext.com
Avantium
Dominique Levant: +31 20 586 01 32; Dominique.Levant@avantium.com
About Euronext
Euronext is the leading pan-European exchange in the Eurozone with nearly 1,300 listed issuers worth close to €3.3 trillion in market capitalisation as of end December 2016, an unmatched blue chip franchise consisting of 25 issuers in the EURO STOXX 50® benchmark and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets. Its total product offering includes Equities, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. Euronext operates regulated markets, Alternext and the Free Market; in addition it offers EnterNext, which facilitates SMEs’ access to capital markets. For the latest news, find us on Twitter (twitter.com/euronext) and LinkedIn (linkedin.com/euronext).
About Avantium
Avantium is a leading chemical technology company and a forerunner in renewable chemistry. Together with its partners around the world, Avantium develops efficient processes and sustainable products made from biobased materials. Avantium offers a breeding ground for revolutionary renewable chemistry solutions. From invention to commercially viable production processes. One of Avantium’s many success stories is the YXY technology to produce PEF: a completely new, high-quality plastic made from plant-based industrial sugars. PEF is 100% recyclable. It offers a cost-effective solution for applications ranging from bottles to packaging film and fibres, positioning it to become the next generation packaging material. The YXY technology is the most advanced technology, and Avantium is also working on a host of other ground-breaking projects and is providing advanced catalysis research services and systems to companies in the chemical, refinery and energy sector. Avantium employs 90 people and the YXY Technology team, employed by the Joint Venture, comprises 50 people from around the world. This translates into cultural diverse teams representing over eighteen nationalities. Over 35% of these people hold a PhD degree. Avantium’s offices and headquarters are based in Amsterdam, the Netherlands. For more information: check out their website.
