Τheon Ιnternational PLC lists on Euronext Amsterdam.

Theon Interntional PLC,a leading developer and manufacturer of customizable night vision and thermal imaging systems for defense and security applications with a global footprintand its headquarters and main production facilities in Greece, is listing its shares this Wednesday, February 7, on the regulated market of Euronext Amsterdam, achieving one of the first IPOs in Europe.
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Christian Hadjiminas, CEO of Theon International, and his team sounded the Gong during the ceremony this morning, in the presence of Simone Huis in ‘t Veld (CEO Euronext Amsterdam) and René van Vlerken (Head of Listings Euronext Amsterdam), to celebrate the IPO of the company (Picture source: Theon International)

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 is commencing today, February 7, 2024, under the symbol "Theon". The gross proceeds to Theon 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,Τheon 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.

Defense News February 2024