HUVEPHARMA is planning an initial public offering on Amsterdam’s Euronext exchange, the company has announced.
The firm, a major global livestock animal health company, plans to raise €300m from the sale of new shares.
See also: Poultry feed production dipped in 2020 for the first time in a decade
It plans to use the funds raised to accelerate growth and repay debt.
In a statement, Huvepharma said it was the fastest-growing global livestock animal health company in terms of sales growth, and was the 6th largest company by revenue in the sector.
It added that the listing would help it with access to capital markets and increase its profile internationally.
Earnings
In 2020 it had sales of €588m and Ebitda of €167m.
The statement announcing the listing said growth was down to three factors: “An increase in the global population; a larger and growing middle-class in developing countries demanding more high-quality animal proteins; and increased food safety concerns and demand for higher quality standards resulting in increasing demand for better quality meat.
“Though there is growing trend of vegan alternatives in developed markets, the Group expects that the impact of this trend on the overall mid to long-term demand for food animal products will be limited.”
Huvepharma has a number of pharmaceutical products on offer to the poultry sector.
