Italian electrode maker and water technologies company, De Nora has filed to go public through the Initial Public Offering route.
As reported by CNBC, the IPO is priced at 13.50 Euros per share, a figure that effectively places the company’s valuation at 2.723 billion euros, or $2.88 billion.
Founded in 1923 by Oronzio De Nora, De Nora is an Italian multinational company offering sustainable technologies for the Green Economy. According to its website, it is one of the world’s largest suppliers of high-performing catalytic coatings and insoluble electrodes for electrochemical and industrial applications, and a leading provider of equipment, systems, disinfection, and filtration solutions for water and wastewater treatment.
While it is one of the oldest tech startups in Europe, the timing of its IPO is currently being faulted considering the consistent global economic meltdown. However, Chief Executive Officer, Paolo Dellacha believes the timing could not have been better.
“It was the right time for us, we have a great equity story, so for us … it is the beginning of a new journey, and we are not scared about the current market turbulences,” CEO Paolo told CNBC’s Julianna Tatelbaum. “We have an industrial plan to execute.”
Despite the fact that the uncertainties are apparent, Paolo affirmed that the firm is ready to go all the way.
De Nora is the First Major IPO After Ukraine’s War Broke Out
The proposed listing of De Nora is the first mainstream IPO in the European Union since the unprovoked invasion of Ukraine by Russia. All eyes will arguably be on the public offering as it will be a gauge of investor sentiments amidst a dwindling economic strain.
Should all things go as planned, De Nora shares should be trading on Euronext Milan by Thursday. Its debut performance will be benchmarked against some key indices such as the STOXX Europe 600 (INDEXSTOXX: SXXP) which is down by as much as 14 percent year-to-date.
While De Nora’s performance will be closely watched at home, it may also give an indication of how well foreign investors are choosing to look beyond the current uncertainty and chart a more forward-thinking path for investment in the tech world.
As a company whose products are needed irrespective of times and seasons, it can be said that De Nora has positioned itself as a firm that has what it takes to maintain demand, revenue, and profitability at the end of the day despite the current harsh economic outlook. The company may be impacted by the economic situation at the moment but is billed to outshine them all with its promising product and tech offering.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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