(BFM Bourse) – The specialist in natural ingredients announces the success of its IPO and has raised 7 million euros, the maximum amount foreseen for this operation. Vinpai will take its first steps on Euronext Growth next Wednesday.
Vinpai’s patience was rewarded. The specialist in natural ingredients for the food and cosmetics industry announced the success of its IPO on Thursday evening.
At the beginning of June 2022, the company based in Saint-Dolay in Morbihan already wanted to go public. It had not acted on it in the weeks since and had then changed its mind in light of market conditions which had deteriorated significantly.
The second attempt was therefore the correct one. The group raised a total of 7 million euros, i.e. the maximum amount planned for this operation. The company exercised both its extension clause and its over-allotment option. This amount includes 2.4 million euros when offsetting receivables.
In this context, 1.07 million new shares will be issued. In detail, the request concerned 908,596 securities on the side of institutional investors under the global placement.
A resounding success with individuals
The company is particularly pleased with the “strong” success of the operation with people with a request of more than 1 million euros. On the part of the small shareholders, the demand actually represented 160,105 shares or 1.05 million euros under the offer at a fixed price set at the announcement of the operation at 6.55 euros.
After the operation, Vinpai’s capital consists of 3,361,415 shares, which represents a market value of around 22 million euros. Settlement delivery of the shares is scheduled for Tuesday 18 July with trading starting the next day, Wednesday 19 July.
More natural on the plate
Founded in 2011, Vinpai – for Verbeïa (Celtic goddess of growth) ingredients Intermediate food product (PAI) – is a company that designs, manufactures and markets to professionals in the food industry, the basis of daily consumer products, composed of algae, plants, minerals or fiber plants. The company intends to hold its own as consumers pay more and more attention to the quality of the food they eat or the cosmetic products they put on their skin.
Vinpai hopes to achieve revenue close to 16 million euros by 2025 while achieving an EBITDA (gross operating profit) margin of more than 10% by this deadline, “driven by strong and enduring consumer trends and clear strategic axes to accelerate its commercial conquest. “
The Breton specialist in natural ingredients therefore joins Osmosun, which gives full satisfaction for its first week as a listed company. The seawater desalination specialist title shows gains of 87% compared to an introductory price set at €6.50.
Sabrina Sadgui – ©2023 BFM Bourse