- 4 million ordinary shares placed (including over-allotment), which corresponds to 22% of the Company’s issued share capital.
- Gross proceeds of the private placement amount to €154 million (including over-allotment).
- Trading on the regulated market of Euronext Amsterdam to commence today, February 7, 2024.
THEON INTERNATIONAL PLC, a leading developer and manufacturer of customizable night vision and thermal imaging systems for defense and security applications with a global footprint and its headquarters and main production facilities in Greece, is listing its shares today on the regulated market of Euronext Amsterdam, achieving one of the first IPOs in Europe.
A total of 15.4 million ordinary shares, consisting of 10 million newly issued ordinary shares and 5.4 million existing ordinary shares (including 1.4 million shares of the over-allotment option), were placed with institutional and private investors as part of the private placement. The total number of offer shares placed in the private placement corresponds to 22% of the share capital of the Company.
The final offer price of €10 per share was determined in a bookbuilding process. Trading on an “as-if-and-when-issued/delivered” basis on the regulated market of Euronext Amsterdam will commence today, February 7, 2024 under the symbol “THEON”. The gross proceeds to amount to €154 million, including over-allotments.
The net proceeds from the capital increase will be used to further accelerate THEON’s growth path through acquisitions.
“The Private Placement and Listing will enable us not just to raise capital but also gives us the flexibility to pursue our long-term growth ambitions through actively exploring bolt-on M&A opportunities to further strengthen our business proposition to keep on serving our global customer base in the best way possible”, commented Christian Hadjiminas, founder and CEO of THEON.
In 2022, ΤΗΕΟΝ generated EUR 142.9 million revenue, recording a 2020-2022 CAGR of >62%, while achieved an EBIT margin of 27.8%. Over the last 5 years the Company has been growing at a rate of 50% per year, closing in 2023 with sales of almost €220 million, maintaining its very high profitability level. THEON’s constantly growing customer base now spans to 68 countries, including 24 NATO countries across the globe.
UBS Europe SE, acting as sole global coordinator and joint bookrunner, Coöperatieve Rabobank U.A., in cooperation with Kepler Cheuvreux SA, acting as joint bookrunner, and Stifel Europe Bank AG, acting as co-lead manager advised on the Private Placement.
