French imaging technology specialist Exosens debuted on the Paris stock exchange on Friday, raising €350 million ($380 million) to support the development of its defense and nuclear components.
Exosens completed its initial public offering on Euronext Paris, selling €350 million worth of new and existing shares to institutional investors in a private placement. White & Case LLP acted as legal adviser to Exosens, which manufactures components used for night vision optics, digital cameras, and space exploration. The company sold the shares for €20 each, giving it a market capitalization on admission of €1.016 billion.
The shares hit highs of €24.20 during early trading on Friday, a 21% increase compared to the IPO offer price.
“Our listing on Euronext Paris marks a decisive step in our history. I am confident that this operation will allow us to benefit from greater flexibility to seize future growth opportunities,” said Jérôme Cerisier, chief executive of Exosens.
Exosens, whose components are used in the defense, nuclear, and life sciences sectors, will continue to be majority-controlled by the private equity firm Groupe HLD, which acquired the company in 2021.
