Raises €18 million, market capitalisation totals €55 million
Paris – 20 February 2015– EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for SMEs,today congratulated Ecoslops, a company specialised in transforming oil residues from shipping into marine fuels, on its successful listing on Alternext in Paris.
Founded in 2009, Ecoslops uses an innovate technology to transform oil residues from shipping into new recycled marine fuels, giving slops and sludge a second life. Demand is strong and its solution offers stakeholders an economically viable and ecologically sound solution. Its first industrial site is already up and running and will increase capacity gradually. Building on this success, Ecoslops plans to step up the pace of growth by signing three new projects by 2017 and expanding its collection capacity.
Ecoslops (ticker symbol: ALESA) was listed through the admission to trading of 3,053,520 ordinary shares, including 1,000,000 new shares issued under a Global Offering after full exercise of the extension clause and the over-allotment option.
The admission and issue price of Ecoslops shares was set at €18 per share. Market capitalisation on the day of listing was nearly €55 million, and the operation raised a total of €18 million.
Michel Pingeot, Chairman and CEO of Ecoslops said: “We are proud that so many investors have shown interest in our company and want to thank all of our shareholders for their trust. Listing has given us the resources we need to become a major player in the transformation of shipping oil residues and continue to grow.”
Eric Forest, Chairman and CEO of EnterNext, noted: “We are delighted to welcome Ecoslops to Alternext. Listing will enable this energy transition specialist to step up the pace of its business development and raise its profile with investors. Ecoslops is now part of the very dynamic group of eco-industry SMEs listed on our markets. This is also the beginning of a lasting relationship with EnterNext, whose teams will be working hard to assist and serve this fast-growing company.”
To celebrate Ecoslops's listing, Michel Pingeot gave a €15,000 cheque to the French association La Société Nationale de Sauvetage en Mer (SNSM).