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De Nora lists on Euronext and joins the Euronext Tech Leaders segment


  • De Nora joins the Euronext Tech Leaders segment, dedicated to European leading and high-growth Tech companies
  • Total placement volume of the offering equal to €545 million

Milan – 30 June 2022 – Euronext today congratulates De Nora, an Italian multinational company specialising in electrochemistry, a leading player in sustainable technologies, and the emerging green hydrogen industry, on its listing on the regulated market in Milan.

In the placement phase, De Nora raised €474 million excluding the potential exercise of an over-allotment option. In the case of the full exercise of the over-allotment option, the total amount raised will be €545 million.

The implicit valuation indicated by the company, taking into account the different categories of shares, is €2.7 billion.

De Nora joins the Euronext Tech Leaders segment launched in June 2022 by Euronext with the support of its strong network of partners. The Euronext Tech Leaders European initiative includes several services, among which the creation of a segment gathering more than one hundred European companies listed on Euronext markets, the upcoming launch of an index made up of the stocks in this segment, a range of services for the visibility and promotion of Euronext Tech Leaders companies to international investors, the creation of a community of Tech Leaders through the integration of a C-level Club and the organisation of the Euronext Tech Leaders Campus, which aims to become the annual meeting venue of Tech companies in Europe.

The Euronext Tech Leaders initiative complements Euronext’s existing Tech offer, which includes an ecosystem of over 700 Tech companies listed on Euronext markets and over 660 alumni of its pre-IPO programmes such as TechShare, as well as a broad investor base to finance all growth types of Tech companies. With this initiative, Euronext aims to strengthen the European Tech sector and to be a catalyst of the next generation of Tech Leaders.

To learn more about the Euronext Tech Leaders initiative: Euronext Tech Leaders.

Paolo Dellachà, CEO of De Nora, said: “We are extremely satisfied to have completed the listing project on Euronext and we are glad to join Euronext Tech Leaders. This is a crucial step for the company that allows us to have important market visibility and seize all business opportunities to keep pursuing well-structured growth worldwide in the different areas in which we operate. Despite the complex moment we are experiencing, the Company has boldly confirmed, on the strength of its financial solidity and distinctive market positioning, that it will pursue the listing project and bring it to its completion with great success. We are, finally, pleased that a relatively large number of international investors have believed in us with a remarkable look of vision and foresight.”

De Nora - Euronext Milan

Caption: Paolo Dellachà, CEO of De Nora, rang the bell during the market open ceremony this morning to celebrate the Initial Public Offering of the company.


About De Nora De Nora is an Italian multinational company specializing in electrochemistry, a leading player in sustainable technologies, and the emerging green hydrogen industry. The company has a portfolio of products and systems to optimize the energy efficiency of industrial processes and water treatment solutions. Globally, De Nora is the world's largest supplier of electrodes for major industrial electrochemical processes (for customers in Chlorine & Caustic Soda production, Electronics components, Surface Finishing), and a leading supplier of water filtration and disinfection technologies (for the industrial, municipal, marine sectors and swimming pools). Leveraging its consolidated electrochemical know-how and proven production capability, the company has developed and qualified a portfolio of electrodes and components to produce hydrogen through the electrolysis of water, which is crucial for the energy transition. In this sector, the company also has a JV with ThyssenKrupp, called TK Nucera, in which it holds a 34% stake. Founded in 1923, De Nora reported total revenues of €616m and EBITDA of €127m in 2021. The Company's growth process developed both organically, thanks to continuous innovation, and by external lines, through major acquisitions in the USA, the UK, Japan, and Italy. De Nora is present in 25 operating companies in 10 countries, with 5 R&D centers in Italy, the USA, and Japan. The Group's intellectual property portfolio currently includes about 260 patent families with more than 2,700 territorial extensions. The company is controlled by the De Nora family (64%), and Snam holds a minority stake of approximately 36%.

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With more than 1,900 listed issuers and around €6.5 trillion in market capitalisation as of end June 2023, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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