THE WHAT? Beauty packaging manufacturer Quadpack has made its debut on the Euronext Growth stock exchange in a move which is hoped to raise funding to further the company’s growth plans.
THE DETAILS The listing follows approval for direct admission by Euronext in October, with a share price of €32.8 per share on the first day of trading, with a market capitalisation of €138 million.
According to a press release, the listing will ‘broaden the company’s means to finance its double-digit growth, averaging approximately 20 per cent over the last five years.”
Quadpack has blazed the acquisition trail since April 2013 in a bid to access new markets and offer different products to its customers. Most recently the company has acquired German packaging manufacturer Louvrette and the exclusive global commercial rights to the bi-injection blow-moulding technology of German tech company Inotech.
THE WHY? The listing on Euronext Growth stock exchange is a strategy that will allow Quadpack to fund its recent rapid expansion.
According to Quadpack CEO and Co-Founder Tim Eaves, “Our growth is the result of a successful organic and inorganic development founded on sustainability. The Euronext stock exchange model allows us to learn and gain funding progressively, in an increasingly regulated environment. Our listing on Euronext Growth will help enable us to explore new opportunities and continue with our progress in the most respectful way for people, planet and profit.”
Looking forward, the company is looking at a potential public listing as the next step in its growth strategy.