2nd transfer between Oslo Børs markets this year and 34th since the beginning of 2020
Market capitalisation of approximately NOK 7 billion
Oslo – 30 March 2023 – Oslo Børs, part of the Euronext Group, today congratulates Hexagon Purus (ticker: HPUR) on its transfer from Euronext Growth Oslo to the Oslo Børs main market. This is the second transfer between the markets at Oslo Børs of the year and the 34th since the beginning of 2020. This illustrates that the Growth market is fulfilling its intended aim, providing growing companies with access to capital for further development and helping them progress to a listing on the main market.
Hexagon Purus is a provider of key technologies needed for zero emission mobility solutions, used in a wide range of mobility applications such as heavy-duty vehicles, buses, maritime vessels, rail, aerospace and distribution modules. The company has a team of almost 600 professionals with offices in Norway, Germany, USA, Canada and China.
At opening, the share price was NOK 25.30 per share, based on the closing price on Euronext Growth Oslo on 29 March 2023. This corresponds to an estimated market capitalisation of NOK 7 billion.
Morten Holum, CEO of Hexagon Purus, said: “Moving to the main market of Oslo Børs has been a key objective for us, so today marks an important milestone for Hexagon Purus. Since listing the company on Euronext Growth a little more than two years ago, we have increased our revenue more than fivefold from NOK 180 million in 2020 to almost NOK 1 billion in 2022. The team’s tireless efforts have been all-important for this successful journey and in making us one of the leading players in the zero emission mobility and hydrogen infrastructure value chain. We are excited to continue our growth journey towards a greener future on Oslo Børs’ main market.”
Hexagon Purus is part of Euronext Tech Leaders, which regroups high-growth and leading Tech companies listed on Euronext. The Euronext Tech Leaders initiative includes a number of services, delivered by Euronext in cooperation with a strong network of partners, including a segment gathering more than one hundred European companies listed on Euronext markets, an index made up of the stocks in this segment, and a range of services for the visibility and promotion of Euronext Tech Leaders companies to international investors.
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 TechShare and IPOready pre-IPO programmes, 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 for the next generation of Tech Leaders.
To learn more about the Euronext Tech Leaders initiative: www.euronext.com/raise-capital/euronext-tech-leaders
Caption: Morten Holum, CEO of Hexagon Purus, rang the bell this morning to celebrate the company’s transfer to the Oslo Børs main market. They were welcomed by Øivind Amundsen, CEO of Oslo Børs (Photo: Chris Fey/ NTB).
About Hexagon Purus ASA
Hexagon Purus enables zero emission mobility for a cleaner energy future. The company is a world leading provider of hydrogen Type 4 high-pressure cylinders and systems, battery systems and vehicle integration solutions for fuel cell electric and battery electric vehicles. Hexagon Purus' products are used in a variety of applications including light, medium, and heavy-duty vehicles, buses, maritime, rail and aerospace as well as hydrogen distribution, mobile refueling and ground storage.