THEON INTERNATIONAL PLC (THEON) announced the successful completion of the private placement of approximately 3.2 million shares from its main shareholders, representing around 4.5% of the company’s share capital. 

According to the announcement, this transaction marks a significant step towards enhancing the free float and liquidity of the company’s shares.

The private placement was conducted at a price of €17.7  per share through an accelerated bookbuilding process, attracting multiple oversubscription from institutional investors. At the same time, the main shareholders retain their overall stake at a level exceeding 75% of the company’s share capital.

The major shareholders have committed to a 90-day lock-up period for additional share sales, subject to customary exceptions, underscoring their confidence in THEON’s long-term prospects. 

Berenberg and UBS Europe SE acted as joint global coordinators and joint bookrunners for the transaction.

Christian Hatziminas, CEO and Founder of THEON, commented:

“We are extremely pleased with the response to the placement from both new and existing institutional investors. The final order book was oversubscribed multiple times, demonstrating investors’ confidence in our robust growth strategy. 

The expansion of the free float, a long-standing request from investors, will help sustain momentum and facilitate greater accessibility to THEON shares. We are proud of what we have achieved as a team.

Given the recent developments in our sector, we are now even more confident in our ability to deliver stronger performance and achieve superior results for our investors.”

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