Marel gets listed on Euronext Amsterdam
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.
The dual-listing on Euronext Amsterdam represents a natural next step in Marel’s 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 a global currency for acquisitions to support the company's growth strategy.
“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.”, declared Árni Oddur Thórdarson CEO of Marel.
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 compromised of a public offering in the Netherlands and Iceland and private placements to certain institutional investors in various other jurisdictions.
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