Electrovac AG Completes Initial Public Offering on Frankfurt Stock Exchange

Electrovac AG, a specialist in glass-to-metal sealing for critical electronics, successfully completed its Initial Public Offering (IPO) by listing on the Frankfurt Stock Exchange’s Prime Standard. The shares commenced trading at EUR 7.50 per share, indicating a market capitalization of approximately EUR 120 million, slightly below the offer price of EUR 7.80.

The company issued a total of 4,416,000 shares, consisting of 3,840,000 new shares from a capital increase and 576,000 shares from an over-allotment option (greenshoe), resulting in gross proceeds of around EUR 30 million. The proceeds aim to expand manufacturing in Asia and enter the U.S. defense market.

Electrovac CEO Dieter Thumfart expressed satisfaction with the IPO's success, marking it as a significant milestone in the company’s 75-year history, providing a foundation for future growth and technological leadership in their industry.