Paris, 27 September - Food technology company Nortem BioGroup (EPA:MLBIO) (MLBIO.PA), began trading today on Euronext Paris at a valuation of EUR 12.9 million and a price of EUR 5.00 per share.
The company floated 2,578,500 shares under the stock exchange symbol MLBIO.
The traditional bell-ringing ceremony at the Euronext's headquarters in La Défense was presided by the company's founder and Executive President, José Luis Vázquez.
After the ceremony, Vázquez said that "today is a historic day for Nortem and for food bio-innovation in Europe. Our listing on Euronext Paris provides us with a platform to expand our presence in global markets".
Nortem generated approximately seven million euros in sales during the 2022 financial year, mainly through Amazon's platform (AMZN). With more than half a million customers, its main market is Europe.
With this listing, Nortem BioGroup is positioned to access new financing opportunities that will enable it to accelerate its growth and consolidate its leadership in the food bioinnovation sector.
Nortem BioGroup operates as a holding company and currently controls five different brands of organic products and materials: Nortembio, NaturalPharma Laboratories, Luxury & Grace, Ecodescalk and LG Health iSystems.
In addition, more than 30% of the company's revenues are dedicated to Research and Development. R&D activities are carried out entirely in El Puerto de Santa María (Cádiz), where 20% of the company's workforce is dedicated to the development of new processes and products.
Nortem BioGroup's mission is to promote sustainable food choices, innovative supplements and smart probiotics. This is in line with the brand's commitment to environmental protection and human health.
Euronext is the pan-European stock exchange, created to foster collaboration between the capital markets of the European Union. The platform includes the stock exchanges of Paris, Oslo, Dublin, Milan, Brussels, Amsterdam, Lisbon and the London futures market.
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This press release contains statements regarding the future of Nortem Biogroup and its innovations. Statements regarding the future may be accompanied by words such as "anticipate", "believe", "estimate", "wait", "anticipate", "pretend", "power", "plan", "potential", the use of future time and other terms of similar meaning. No undue reliance should be placed on these claims. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of the company's commercial success, ability to protect our intellectual property rights, and other risks. These statements are based on current beliefs and forecasts and refer only to the date of this press release. The company assumes no obligation to publicly update its forward-looking statements, regardless of whether new information, future events or any other circumstance arise.
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