The Barcelona-based company will start trading at a value of €1.72 per share in the coming weeks
Vytrus Biotech was founded over 12 years ago by Albert Jané and Òscar Expósito
Cosmetic active ingredient specialist Vytrus Biotech is poised to go public.
The Barcelona-based company announced that, following a favourable report by The Market and Incorporations Coordination Committee, it will be listed on the Spanish BME Growth stock market in the coming weeks with an initial valuation of €12.2m.
Vytrus hopes its incorporation into BME Growth will provide the company with a mechanism for liquidity and objective valuation of its shares as a reference for potential future corporate operations.
The move is also anticipated to boost Vytrus’ brand image, transparency and solvency, as well as strengthening its relationship with clients, investors, suppliers and funders.
According to Vytrus, a date will be set to ring the bell for shares to start trading at a value of €1.72 per share once the biotech company receives definitive approval of incorporation by the Board of BME Growth.
Founded more than 12 years ago by current CEOs biotechnologist and biochemist Albert Jané and Òscar Expósito, a biologist and PhD in plant biotechnology, Vytrus increased its sales by 65% during the 2021 financial year to reach €2.8m.
“Our business is based on the development, production and commercialisation of active ingredients with high added value for the cosmetic and dermatological markets,” said Jané. “Thanks to our plant stem cell culture technology, we obtain high quality, natural and sustainable products.
“Going public will help us continue developing the great benefits of our technology and allow us to boost the growth of the company.”
“At Vytrus Biotech, we believe that the ‘what’ is as important as the ‘how’ things are done. Innovation is part of our DNA, but the passion for what we do is what makes us continue living this project with enthusiasm and determination,” added Expósito.
“Both the international awards and recognitions we have received in recent years and the implementation of our corporate social responsibility programme make us feel very proud to be part of this project.
“We firmly believe that the incorporation of Vytrus to BME Growth will be a great catalyst for the growth and expansion of a project that genuinely wants to add value to the world in a sustainable and conscious way.”
Vytrus will make its debut in the listing without placement modality in the hands of GVC Gaesco Valores as registered advisor and liquidity provider, and with Garrigues and IMB Group as legal advisors.