Avantium has completed an IPO on Euronext worth US$110 million

March 2017 — Avantium has completed an IPO on Euronext Amsterdam and Brussels worth US$110 million.

Avantium is a leading chemical technology company and a forerunner in renewable chemistry. Together with its partners around the world, Avantium develops efficient processes and sustainable products made from bio-based materials. The company offers a breeding ground for revolutionary renewable chemistry solutions, from invention to commercially viable production processes.

The IPO will support Avantium with the commercialization of its YXY technology, in a joint venture with BASF, by building the first commercial scale reference plant for PEF building block FDCA. PEF is a completely new, high quality plastic made from plant-based industrial sugars that is 100% recyclable. It offers a cost-effective solution for applications ranging from bottles to packaging film and fibers, positioning Avantium to become the next generation packaging material leader.

YXY is the most advanced technology in renewable chemistry. Avantium is also working on a host of other ground-breaking projects providing advanced catalysis research services and systems to companies in the chemical, refinery and energy sectors. Avantium employs 90 people while the YXY technology team, employed by the joint venture with BASF, comprises 50 people from around the world.

Frank Roerink, CFO, Avantium: “We have dealt with a number of private funding rounds in our Avantium history, but when we decided to investigate the IPO route, we knew that this was a process with its own rules and regulations. Oaklins' ECM team in the Netherlands brought a wealth of experience and expertise that we needed to be successful. Oaklins’ access to financial markets and investors was instrumental throughout the entire process and it was their commitment to put their own personal network on the table, putting their client first, that made the true difference.”

Our role in the transaction

Oaklins' team in the Netherlands, in its role as IPO advisor, assisted Avantium’s management team and shareholders all the way, from the start to the successful completion of the IPO. During this process, the team initiated and advised on many aspects, including, among others, securing pre-commitments from cornerstone investors, deal structuring, and the IPO pricing and sizing.