(News Bulletin 247) – The company specializing in desalination solutions powered by solar energy will take its first steps on Euronext Growth next Monday on the basis of a price of 6.50 euros per share. Fixed in the upper part of the target range, this price therefore values ​​the company around 36 million euros.

A little ray of sunshine in a gloomy stock market weather. Osmosun, the specialist in low-carbon water desalination using solar energy, announced on Wednesday evening the success of its IPO on Euronext Growth in Paris, based on a price of 6.50 euros per stock.

This price was set at the upper limit of an indicative range between 5.10 euros and 6.90 euros. On this basis, Osmosun’s market capitalization stands at around 36 million euros.

Given the theme of Osmosun, namely access to drinking water for all, the operation was therefore a “strong” success with investors.

An operation oversubscribed 1.6 times

Overall demand amounted to 2.086 million shares at this price of 6.50 euros. In detail, the request related to 1.125 million securities on the side of institutional investors under the global placement. As for small holders, demand represented 960,886 shares, or 6.2 million euros under the open price offer. In total, the operation was oversubscribed 1.6 times.

And given the strong demand, the group resorted to an extension clause which made it possible to increase the gross amount of the fundraising to 10 million euros, by issuing 1.53 million new shares. , including 2.7 million euros in debt compensation.

Osmosun may further increase this amount to 11.5 million euros, via the exercise of an over-allotment option (representing an addition of a maximum of 15% of the new shares) from the start of listing, scheduled for July 10, until August 4 at the latest.

The funds raised will thus “allow us to accelerate our development and act on a larger scale to address the global water problem”, rejoices Quentin Ragetly, CEO of Osmosun, who thanks “the institutional investors as well as individual shareholders [d’avoir] participated massively in this operation”.

“Our patented battery-free solar energy desalination technology gives us a unique position to meet market demand, in search of ever more efficient, more economical and more ecological drinking water production solutions”, continues the manager.

“A demand that continues to accelerate”

Founded in 2014, the Osmosun company indeed offers to rid sea or brackish water of salt and other impurities by reverse osmosis. This technology used by most desalination plants in the world consists of filtering the water by pressure, retaining the impurities to allow only the water molecules to pass.

“We have the ambition to multiply our size by 10 over the next 5 years, while regularly improving our profitability,” explained the manager at the launch of the IPO. The Osmosun group hopes to increase its turnover to more than 20 million euros in 2025 and to 48 million euros by 2027. Last year, the group saw its sales stand at 4, 6 million euros. The company also aims to improve its profitability over the period and raise its adjusted EBITDA (gross operating income) margin from 4.3% in 2022 to more than 10% in 2025 to reach more than 20%. in 2027.

The company is seeing market interest in its solutions, with demand “continuing to accelerate” amid high pressures on water resources. The OECD estimates that nearly 4 billion people could run out of water by 2050. In this context of water scarcity and risk of water shortage, desalination is becoming a preferred solution and abundant since nearly 70% of the planet is covered with salt water.

The press release specifies that the settlement-delivery of the shares will take place on July 7, 2023 and that the shares “will be admitted to trading on the Euronext Growth market, from July 10”, i.e. next Monday, under the ISIN code: FR001400IUV6 and the mnemonic code ALWTR, (WTR for water or eau in French).