Hoffmann Green raises EUR65.4m for its IPO

France-based Hoffmann Green Cement Technologies has raised EUR65.4m as a result of its initial public offering (IPO) on the Euronext Growth Paris bourse. The total amount of the offer could be increased to EUR75.2m if the over-allotment option is taken, said the company.

The price of the offer was set at EUR18/share and the transaction was oversubscribed 2.2 times. The shares will begin trading on Euronext Growth Paris on 21 October 2019.

Following the IPO the market capitalisation of Hoffmann Green Cement Technologies is just over EUR236m. The funds will be used to finance the construction of two new cement plants to manufacture cement that does not contain clinker during a process that does not require high temperatures.