Euronext Growth welcomes tech company Adeunis

Euronext Growth welcomes tech company Adeunis

Euronext Growth welcomes tech company Adeunis

The FINANCIAL -- Adeunis, a French tech SME specialised in wireless connected objects, celebrated its listing on the Euronext Growth Paris market on October 16 during a ceremony at the Paris stock exchange attended by management, contributors and advisers.

Founded in 2000 in the French Alps (Crolles), Adeunis manufactures and markets connected sensors and ready-to-use wireless solutions dedicated to the Internet of Things (IoT) and machine-to-machine communication that ensure the secure transmission of data. The company financed its own growth until 2011, when it was joined by investors including A Plus Finance, Capital Export and Tempocap. Its expertise has driven expansion in Europe and the United States, generating sales of over €9 million in 2016, according to Euronext.

Adeunis (ticker code ALARF) was listed through the admission to trading on 16 October 2017 of 2,182,960 shares, including 736,757 new shares issued as part of a Global Offering.

The offering price was set at €10.11 per share. Market capitalisation was around €22million on the day of listing, and the IPO raised a total of €7.4 million.

At the listing ceremony, Adeunis CEO Pascal Saguin stated: “We would like to extend warm thanks to our institutional and individual investors for their trust and confidence. We also want to thank our longstanding shareholders who have stood by us once again and who share our strategy for bold growth. Funds raised by listing will be used to accelerate our deployment across Europe and the United States, and step up growth on markets focusing on industrial IoT and professional audio solutions.”