Belgian specialty chemicals supplier Azelis has announced its IPO on the regulated market of Euronext Brussels. To this end, qualified investors from Belgium and certain other countries will be offered both new shares from a capital increase and shares from existing shareholders. The targeted issue net proceeds of EUR 880 million are intended to reduce the existing EUR 1.6 billion liabilities and create financial leeway for growth and acquisitions. In addition, Azelis explicitly wants to create the opportunity to incentivize its management with the IPO. Azelis is backed by the Swedish financial investor EQT and the financial investor PSP Investments from Canada.
With nearly 2,800 employees in 56 countries, more than 60 application laboratories and around 90 offices worldwide, Azelis generated a total turnover of EUR 2.2 billion in 2020. The company is a wholesaler of chemical products. More than 50,000 customers from the chemical, coatings, plastics and food industries, among others, are supplied with products from around 2,200 suppliers. For the latter, Azelis offers its services in terms of marketing, sales and formulation.
Source: https://www.azelis.com/en/news/azelis-announces-its-intention-to-float-on-euronext-brussels
