IMAP is pleased to announce the private placement of new shares in Avantium.
Avantium is a leading technology development company active in renewable chemistry and develops technologies that enable the production of sustainable products from plant-based raw materials.
Avantium successfully raised €28 million through an accelerated bookbuild offering of 5,206,589 new shares representing approximately 19.99% of the company’s issued share capital. The shares were placed at a price of€5.35 per share, signifying an 8.2% discount to the closing price of €5.83 on the 14th April 2021. The new shares were placed with both European and US institutional investors.
The Degroof Petercam (IMAP Belgium) team, led by Dirk-Jan de Graaff and Erik De Clippel, acted as joint bookrunner to Avantium. Degroof Petercam’s contribution was crucial in securing strong demand early in the process, generating the highest level of unique demand and adding quality names from family offices and long-term investors to the book.