Arni Oddur Thórdarson CEO of Marel rang the gong at Euronext Amsterdam to mark the occasion and opening of the market.
Marel lists on Euronext Amsterdam
Thursday, June 13, 2019, 14:30 (GMT + 9)
Marel began trading on Euronext Amsterdam, marking the dual-listing of Marel on both Euronext and Nasdaq Iceland.
Marel has been listed on the stock exchange in Iceland, now Nasdaq Iceland, since 1992. During that time Marel has delivered revenue growth of 22% through a combination of organic revenue growth and successfully integrated acquisitions, creating excellent value for its shareholders. As a global leader in sustainable food processing, Marel welcomes its new international institutional and retail investors to support its ambitious growth plans.
NEXT PHASE OF GROWTH
The dual-listing on Euronext Amsterdam complements Marel's existing listing on Nasdaq Iceland and is a natural next step in its growth strategy. By listing on an international stock exchange in addition to Nasdaq Iceland, Marel increases the visibility of its brand and access to a broader international investor base. In addition, the dual-listing strengthens Marel’s capital structure and provides the company with a global currency for acquisitions to support its ambitious growth strategy.
GONG SOUNDING AT EURONEXT | At 9.00 AM CET, Árni Oddur Thórdarson CEO of Marel rang the gong at Euronext Amsterdam to mark the occasion and opening of the market. The sounding of the gong was followed by a speech by Maurice van Tilburg, CEO of Euronext and Árni Oddur, and an exchanging of gifts.
ÁRNI ODDUR THÓRDARSON, CEO:
“This is a proud day for Marel as we complete our listing process on Euronext Amsterdam, complementing our Icelandic listing. We are very pleased to have received very strong levels of support and interest in the Offering from both the retail and institutional investment communities in the UK, US, Iceland, Netherlands and the rest of Europe. The Euronext listing will support the next phase of our growth and better enable us to pursue our vision of a world where quality food is produced sustainably and affordably.”
ÁSTHILDUR OTHARSDÓTTIR, CHAIRMAN OF THE BOARD:
“We are delighted with the strong levels of institutional and retail demand which demonstrate the quality of the Marel business and interest in our dynamic industry. The strong endorsement by high quality cornerstone investors and the significant geographic broadening of our shareholder base represent a welcome addition to our supportive shareholder register. The secondary listing on Euronext Amsterdam will strengthen Marel’s capital structure and provide our experienced management team with the platform and global currency for acquisitions to continue our ambitious growth strategy.”
Authorities and guests celebrating Marel's presentation at Euronext
RESULTS OF THE OFFERING
The offering was multiple times oversubscribed with strong demand from both international institutional and retail investors. The share price has been set at EUR 3.70, implying a market capitalization for Marel of EUR 2.82 billion. The shares offered are equivalent to approximately 15% of Marel’s total issued share capital. The offering was comprised of a public offering in the Netherlands and Iceland and private placements to certain institutional investors in various other jurisdictions.
Read more about the results of the offering here.