(News Bulletin 247) – Osmosun’s initial public offering (IPO) was nearly twice oversubscribed, the solar-powered seawater and brackish water desalination specialist announced last night.
The global placement, mainly aimed at institutional investors, and the open price offer, aimed at natural persons, have both been very successful, the company said in a press release.
Overall demand thus amounted to nearly 2.1 million shares, i.e. an oversubscription of 1.6 times compared to the initial offer, specifies Osmosun, who says that he sees in this the ‘confidence’ of the market in its positioning. , its development strategy and growth prospects.
Faced with this strong demand, Osmosun says it has set the final price of the operation at a unit price of 6.50 euros, in the upper part of the indicative price range of 5.10-6.90 euros.
The company has also decided to fully exercise the extension clause, which will enable it to raise a gross total amount of 10 million euros.
The proceeds of the operation will be dedicated up to 45% to financing support for the organic growth strategy, 20% to financing R&D investments and 35% to financing external growth.
With the acquisition of new complementary technological ‘bricks’, the group says it wants to become a vertically integrated player in water treatment.
The start of trading is now scheduled on Euronext Growth Paris on July 10, on the basis of a market capitalization which has already reached nearly 36 million euros even before the exercise of the over-allotment option.
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