The FINANCIAL -- Euronext Amsterdam and Euronext Brussel on March 15 welcomed Avantium one of the leading chemical technology companies and forerunner in renewable chemistry.
The listing follows the company’s successful Initial Public Offering (IPO), with a total offering of € 125.8 million1.
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, according to Euronext.
Avantium is one of the leading chemical technology companies 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.