International beauty packaging manufacturer and provider Quadpack has applied for a transfer of market for listing and trading its shares from Euronext Access to Euronext Growth. The application – filed with Euronext and currently under review – is for a direct admission on the grounds of a sufficient float, notably subsequent to two recent private placements realised in July and August 2019.
The application takes place following Quadpack's most financially successful year. According to Quadpack's policy and for the third consecutive year, approximately one third of 2018's profits will be distributed in dividends. The gross dividend per share will be €0.30, the total payment amounting to €1.2 million, while the two remaining thirds of profit will go to voluntary reserves. Results for 2019 are on course to surpass those of the previous year.
Quadpack is a leading presence in the global beauty industry for the manufacture and supply of innovative packaging solutions. It first entered the stock market with a private listing on Euronext Access (then Marché Libre) on 21 April 2016.