Gevorkyan raises capital through ABB share offering
Gevorkyan as, headquartered in Vlkanová, Slovakia, has announced the successful completion of an Accelerated Book-Build (ABB) share offering. Through the ABB, the company obtained capital to develop its production capacities and technologies, as well as to strengthen its position in the international market.
In line with these objectives, the funds raised will be allocated, in part, to fund the recently completed acquisition in Italy. At the same time, through the ABB, the company reportedly increased its free float on the Prague Stock Exchange, which had been recommended by advisors as a necessary condition to increase liquidity.
“We consider an ABB to be a logical step for a company that is already listed on the stock exchange, with the aim of supporting business development and thereby increasing value for investors,” stated Dipl-Ing Artur Gevorkyan, Chairman of the Gevorkyan Board of Directors. “Once a company decides to enter the stock market through an IPO, it is logical that over time it will also carry out a secondary offering.”
“In our case,” he continued, “we did not want to take such a significant step before an opportunity for a strategic acquisition arose. We had already announced the acquisition of a factory in Bologna, with the key difference compared to previous acquisitions in Sweden and Poland being the preservation of production and the expansion of business in Italy, including projects for the local defence industry. Work on this acquisition lasted almost two years, until an agreement was reached among all parties involved in the process.”
Informing potential customers about the expansion of operations in the Italian market has reportedly helped Gevorkyan win new projects. Within these are multinational companies looking to localise their supplier networks and transfer projects from their Italian factories to Gevorkyan.
