Tekna Holding AS, Sherbrooke, Quebec, Canada, has begun trading on Euronext Growth Oslo, a multilateral trading facility operated by the Oslo Stock Exchange. The shares in the new issue were sold at NOK 27 (€2.7), corresponding to a pre-money market capitalisation of NOK 2.7 billion (€270 million) for the company.
The company explains that it wants to invest in further growth and, prior to the listing, Tekna conducted a private placement, raising NOK 750 million (€75 million) in new equity. The placement was said to be multiple times oversubscribed and attracted significant interest from domestic, Nordic and international investors including cornerstone investors such as Lugard Road Capital (managed by Luxor Capital Group), Norron, Andenæsgruppen, Blackcrane, together with Storebrand and Delphi funds.
“This IPO marks the start of a new and exciting chapter for Tekna as a publicly-traded company, and propels us forward in our vision of taking a leadership position in three multi-billion-dollar markets: Additive Manufacturing, printed electronics and energy storage,” stated Luc Dionne, Chief Executive Officer, Tekna Canada. “Supported by a strong portfolio of plasma-based technologies, we have a proven track record of scalability, with over 80% recurring sales of advanced materials. Our business model serves as a solid platform for increased market shares and strong revenue growth. This listing on Euronext Growth, combined with the successful private placement, provides us with a strong financial platform to accelerate our value creation strategy.”
Over the last thirty years, Tekna has developed industry technology and know-how to produce high-purity metal powders for applications such as Additive Manufacturing in the aerospace, medical and automotive sectors, as well as optimised induction plasma systems for industrial research and production.
Morten Henriksen, chairman of Tekna Canada and Chief Executive Officer of Tekna Holding AS, commented, “Built on three decades of delivering excellence, Tekna has proven and commercialised technology with a global network of over 200 blue-chip customers and an ambitious growth strategy towards 2030. The listing on Euronext Growth is an important part of this growth strategy and we look forward to continue the Tekna journey as a listed entity.”