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  QUADPACK company press release from 15/10/2019

  15/10/2019 - 20:50

Quadpack to transfer its listing to Euronext Growth in Paris


International beauty packaging manufacturer and provider Quadpack – one of the top ten cosmetic packaging companies in Europe – will start trading on Euronext Growth on 18 October 2019. The company's listing is subsequent to a transfer from Euronext Access. Its application for the transfer was approved by Euronext for direct admission today. 

Quadpack boasts a hybrid business model, combining own manufacture and global sourcing, based on a foundation of sustainability, aiming to increase profitability while ensuring a positive impact on society and the environment. In addition, the company is recognised for its trend vision and packaging design and engineering. 

The admission follows the implementation of two private placements conducted during 2019, including five investors and a combined value of €10.3 million. No additional capital will be raised in connection with the listing, neither through a public offering nor a private placement of the shares.

Quadpack first entered the stock market with a private listing on Euronext Access (then Marché Libre) on 21 April 2016 at €8.43 per share. Today, Quadpack's share value has risen to around €30 per share, having seen an increase in value of nearly four times. In the same timeframe, Quadpack has more than doubled its business, from a €55 million turnover at the end of 2015 to €130 million forecast for 2019. 

The share price upon admission to Euronext Growth will be the closing price on the final day on Euronext Access. Therefore, the market capitalisation of Quadpack will be in the region of €125 million. Quadpack's trading symbol will change from MLQP to ALQP once trading on Euronext Growth. 

In connection with this transfer, Quadpack has entered into a liquidity contract with investment services provider Invest Securities, who will act as a liquidity provider to facilitate active trading of Quadpack's shares. In addition, Invest Securities will continue to act as listing sponsor, while investment bank Invest Corporate Finance will act as advisor to Quadpack.

The transfer to Euronext Growth is a means by which the company aims to fulfil its strategic plans. Quadpack CEO and Co-Founder Tim Eaves said: “Our growth is the result of a successful organic and inorganic development founded on sustainability. The Euronext stock exchange model allows us to learn and gain funding progressively, in an increasingly regulated environment. Our listing on Euronext Growth will help enable us to explore new opportunities and continue with our progress in the most respectful way for people, planet and profit.” 

With a public listing as a potential next step in its evolution, Quadpack will continue its mix of organic and inorganic growth. Most recent operations include the acquisition of German packaging manufacturer Louvrette and the exclusive global commercial rights to the bi-injection blow-moulding technology of German tech company Inotech, in conjunction with a research and development agreement – two moves which bolster Quadpack's leadership position in terms of manufacturing and innovation in the cosmetic packaging sector.

-ENDS-


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  Original Source: QUADPACK