Raises €7 million, market capitalisation totals €26 million
Paris – 8 April 2015– EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for SMEs,today congratulated Plant Advanced Technologies (PAT), a company specialised in identifying and producing rare plant molecules, on its successful listing on Alternext in Paris.
Founded in 2005, Plant Advanced Technologies (PAT) identifies, optimises and produces rare plant-based biomolecules for pharmaceuticals, cosmetics and green chemistry. The company’s product portfolio includes 26 active compounds, one already recognised internationally, and some 20 that will be on the market in the next five years for the treatment of aging, inflammation, cancer, Alzheimer’s disease and more. PAT's innovative technologies (PAT plant milking® and PAT Friday®) make for very strong growth potential in fast-growing markets.
Plant Advanced Techonologies (ticker symbol: ALPAT) was listed through the admission to trading of 867,521 ordinary shares, including 230,000 new shares issued under a Global Offering after full exercise of the extension clause and before a potential over-allotment option.
The admission price and issue price of Plant Advanced Technologies was set at €30 per share. Market capitalisation on the day of listing was €26 million, and the operation raised a total of €6.9 million
Jean-Paul Fèvre, Plant Advanced Technologies’ co-founder and Chairman & CEO, said: “We are delighted that our listing has proved so popular, especially with such a large number of individual investors. Listing on Alternext is a milestone for PAT and will enable us to step up our growth. I would like to extend our sincere thanks to all of the individual and institutional investors who took part in this IPO for their trust and support.”
Eric Forest, Chairman and CEO of EnterNext, said “We are very pleased with successful listing of plant biotech specialist Plant Advanced Technologies. This transaction confirms the stockmarket’s appeal for innovative companies, allowing them to raise the capital they need to step up the pace of development. Plant Advanced Technologies is now part of a community of over 320 listed tech companies whose investor profiles are being boosted by tools developed by Euronext.”