THEON INTERNATIONAL PLC (THEON), one of the leading designers and manufacturers of night vision and thermal imaging systems for military and security applications with a strong global footprint, announced that it has listed its shares on the regulated market of Amsterdam (Euronext), achieving one of the first public registrations in Europe.

A total of 15.4 million shares were assigned to institutional and retail investors during the private listing, including 1.4 million shares with a put option. The total number of shares offered corresponds to 22% of the Company’s share capital.

According to the Company’s announcement, the final offer price of €10 per share was determined through the bookbuilding process. The negotiation at the regulated market of Euronext Amsterdam started today, February 7, 2024. THEON’s gross revenue amounts to 154 million Euros, including revenue from the full exercise of the put option.

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The net income from the newly-published shares will be used to further accelerate THEON’s growth path through acquisitions.

Christian Hatziminas, Founder and CEO of THEON, commented that the listing of THEON on the Amsterdam Stock Exchange allows it to accelerate the implementation of its business and investment plan. The purpose, as he added, is to proceed with acquisitions so as to enrich the product portfolio being managed, the partial vertical integration of its production, and the acquisition of new technologies, in order to continue offering its global customer base new advanced products.

He concluded by pointing out that they are particularly satisfied with the quality of the investors who trusted them, as their quality participation was their main criterion in determining the final price per share.

Christian Hatziminas, CEO of THEON INTERNATIONAL, and his team, sounded the Gong during the ceremony this morning, in the presence of Simone Huis Veld (CEO, Euronext Amsterdam) and René van Vlerken (Head of Listings Euronext Amsterdam), to celebrate the listing of the company on the Amsterdam Stock Exchange.

In fiscal year 2022, THEON’s revenue amounted to €142.9 million, achieving repeated growth, which in the last three years (2020-2022) is equal to more than 62% per year, while the operating margin (EBIT) for the same year reached 27.8%, the highest in the industry on a global level.

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In 2023 THEON’s sales amounted to some €220 million, while the year was marked by high profitability. The company seeks to maintain this momentum in 2024 as well.

During this period, the Greek company is investing in new infrastructure and building facilities, but also in the development of new products and technologies. It is worth noting that within 5 years the company has tripled its personnel, creating new quality jobs in Greece, while making over 95% of its sales abroad in 68 countries.

In fact, THEON has recently signed major new contracts with important militaries, including the German and US Marine Corps, confirming its industry leadership and high level of existing customer satisfaction leading to repeat contracts and sales.

UBS Europe SE acted as Global Coordinator and Co-Manager of the Tender Book, Coöperatieve Rabobank U.A. together with Kepler Cheuvreux SA acted as Co-Managers of the Tender Book and Stifel Europe Bank AG acted as Co-Lead Manager of the private listing.

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At this point, it should be noted that the other day THEON SENSORS, along with the company SCYTALYS (both members of the EFA GROUP), starred in the “World Defence Show” of Saudi Arabia, where special guests from delegations of various countries visited the Greek pavilion and its innovations.

Among the distinguished guests was the Chief of the National Guard General Staff, Lieutenant General Georgios Tsitsikostas.