The national stock exchange will receive another company. The toy maker said on Thursday its intention to be listed on the stock exchange.
The Portuguese company Science4You expressed interest, this Thursday, in joining the stock exchange. In a statement sent to the Securities and Exchange Commission (CMVM), the toymaker said it intends to distribute up to 45% of the share capital on the stock exchange.
“Science4you, SA, a 100% Portuguese company dedicated to the development, production and marketing of toys in Portugal, is informing the market about its intention to launch an Initial Public Offer (IPO) on actions representative of its share capital and request their admission to trade on the Euronext Growth Multilateral Trading System, “the statement said.
The company led by Miguel Pina Martins intends to disperse up to 45% of the capital stock on the stock exchange, according to the same statement. It is also expected that the IPO will consist of two components: capital increase and sale of shares of the company’s current shareholders.
“This operation will also give the company greater visibility and credibility in an important phase of internationalization, also being an important milestone and a new stage of the company 10 years after its launch,” says Miguel Pina Martins, president and founder of Science4you, quoted in even communicated.
The advance of this IPO is, however, subject to the necessary approvals of regulators, of the CMVM, and favourable market conditions.
Science4you currently has a consolidated sales volume of more than 20 million euros and regularly exports to more than 60 countries. Among its main investors are the Millennium Fund of Capitalization, Portugal Ventures and the European Investment Bank, according to the same statement.