Deliver Your News to the World

Marel Lists on Euronext Amsterdam and Issues New Shares

Listing on Euronext Amsterdam supports Marel’s growth goals

Amsterdam – WEBWIRE

Marel (ticker symbol: MAREL), a leading global provider of advanced processing systems, software and services for the poultry, meat and fish processing industry, today began trading on Euronext Amsterdam, adding to its existing listing in Iceland.

Alongside the additional listing on Euronext, Marel completed a public offering comprising 100m shares representing approximately 15% of Marel’s share capital. At an offer price of €3.70 the total offer size will be €370 million assuming the full exercise of the over-allotment option. Marel’s total market capitalisation stands at €2.82 billion on the day of listing.

Founded in 1983, Marel had €1.2 billion in revenues in 2018 and more than 6,000 employees in over 30 countries on six continents. Marel is the largest company in Iceland by market value. Since listing in 1992 on Nasdaq Iceland, Marel has delivered a revenue CAGR of 22% through a combination of organic revenue growth and successfully integrated acquisitions. It targets revenue growth of 12% on average annually in 2017-2026, comprising 4-6% organic growth and on average 5-7% via acquisitions. The food processing market in which Marel operates is forecast to grow 4-6% annually.

The listing on Euronext Amsterdam, in addition to its listing on Nasdaq Iceland, sees Marel enter the next phase of its growth. The Amsterdam listing strengthens Marel’s capital structure and provides a global currency for acquisitions in support of its growth strategy, while expanding its shareholder base and enabling Marel to access international capital markets. Amsterdam is the logical choice for listing since Marel already has a strong foothold in the Netherlands where 1/3 of its employees are based. Marel is committed to innovation and targets to invest on an annual basis around 6% of its revenues in Research and Development.

Árni Oddur Thórdarson, CEO of Marel, said: “This is a proud day for Marel as we complete our listing process on Euronext Amsterdam, complementing our Icelandic listing. We are very pleased to have received very strong levels of support and interest in the Offering from both the retail and institutional investment communities in the UK, US, Iceland, Netherlands and the rest of Europe. The Euronext listing will support the next phase of our growth and better enable us to pursue our vision of a world where quality food is produced sustainably and affordably.

Maurice van Tilburg, CEO of Euronext Amsterdam, said: “We are extremely proud to welcome Marel to Euronext Amsterdam. The fact that Marel has been able to attract a large number of high quality, long term global investors so early in the book building process proves the strong reputation of the company. We are looking forward to supporting Marel’s future and ambitious growth goals.

To mark Marel’s first trading day, Árni Oddur Thórdarson, CEO of Marel, sounds the gong to open the markets in Amsterdam.

About Euronext

Euronext is the leading pan-European exchange in the Eurozone, covering Belgium, France, Ireland, The Netherlands, Portugal and the UK. With 1,300 listed issuers worth €3.5 trillion in market capitalisation as of end March 2019, Euronext is an unmatched blue chip franchise that has 24 issuers in the Morningstar® Eurozone 50 Index℠ and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities ,FX,  Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, Euronext also operates Euronext GrowthTM and Euronext AccessTM, simplifying access to listing for SMEs.

This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at

( Press Release Image: )


This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.