The share price of Stif, a manufacturer of components for the handling of bulk goods, climbed on Wednesday for its first day of trading on the Paris Stock Exchange.

The IPO was carried out following the admission to trading of some 5.08 million shares comprising its share capital, including 1.59 million shares from the global offering.

This figure includes, on the one hand, the issue of 1.38 million new shares and, on the other, the sale of 207,692 existing shares as part of the full exercise of the extension clause.

The SME - which aims to become a world leader in industrial explosion protection - explains that the operation should enable it to accelerate its growth, in particular by promoting its development in the field of battery energy storage systems (BESS).

Based on the IPO price of 6.50 euros per share, the company's market capitalization stands at 33 million euros, with the total amount of the offer representing 10.3 million euros.

At around 3:20 pm, the share price was up 10%, giving a stock market valuation of over 36 million euros.

Copyright (c) 2023 CercleFinance.com. All rights reserved.