Polish 3D producer has successfully ended its IPO. The offer was highly popular amongst investors and the demand for shares exceeded the number offered.
Zortrax, an Olsztyn-based company that delivers comprehensible solutions for the 3D printing industry, has recently confirmed its attractiveness to investors. The initial public offering (the first sale of a stock to the public), issued July 2nd on the Polish stock exchange, turned out to be a great success.
”We are very pleased with the result as it proves that the investors have appreciated the company’s fast development in the last year and trusted our strategy. Some of the investors are our bondholders who are familiar with the company’s possibilities and growth potential. Their repeated engagement in the offer confirms that the direction of the company’s development is right,” says Rafał Tomasiak, CEO Zortrax.
Zortrax’s shares issue was divided into two tranches. The bondholders purchased all the securities they subscribed for. Meanwhile, the number of subscriptions in the open tranche significantly exceeded the number of offered shares. The subscriptions in this tranche were reduced by 66,09%. For each of the series C share investors paid PLN 32.50.
”Such a result on the currently difficult primary market, where issuers have been withholding their offers, is a good example proving that good companies with clear strategy will always enjoy demand amongst investors. Zortrax is one of them,” comments Szczepan Dunin-Michałowski, Managing Director from the Ventus Asset Management S.A. brokerage house.
The list of Zortrax’s advisors for the offer included: Ventus Asset Management S.A. brokerage house (offering party), IPO Doradztwo Kapitałowe S.A. (financial advisor) and MSLGROUP (PR and IR consultant).
Zortrax is a producer of an integrated 3D printing environment including original 3D printers, different printing materials and dedicated software that allows to create professional prints. The company was created in 2009 by Rafał Tomasiak and Marcin Olchanowski. It now manufactures one of the most reliable 3D printers among others in its range. In 2014 users gathered around 3D Hubs chose Zortrax M200 to be the best plug&play device.
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