FacePhi goes public on Euronext Growth
The technology company, leader in the biometrics solution industry, has made its debut in the French stock exchange with a value of 7.98 euros per share.
FacePhi, leading company in multi-factor biometrics solutions for the financial sector, has started trading today in the Euronext Growth in Paris, a stock market specializing in small and medium capitalization companies. This morning, the technology company has made its debut in the French sotck market with the admission of 13,277,083 shares. The share value has been set at 7.98 euros, which represents a market capitalization of about 105.95 euros on the first trading day.
The Alicante-based company will operate under the dual listing formula. Thus, it will list at the same time on the Euronext Growth market in Paris and in the Alternative Stock Market (MAB) in Spain, where it has been active since 2014. This last move made by FacePhi comes after the company managed to close 2019 as the most-growing value on the Spanish Stock Exchange this year and where its stock appreciated by more than 300%.
The French initial public offering aims to increase the company’s visibility in the European market to attract new institutional investors. This has been highlighted by the CEO of FacePhi, Javier Mira, during the course of the event in which the traditional opening bell ringing has taken place and that he has attended with the president of the company, Salvador Martí, and other members of the management team.
In this sense, Mira has emphasized “the excellent business opportunities opening up to attract new investors internationally through this operation in the French stock market.” “Listing on both exchange markets will allow us to increase our presence in front of the European investors and strengthen our position as leading players within the national and international market,” added FacePhi’s CEO.
FacePhi’s good economic performance has marked 2019. The company has closed last year with a growth of 82.88%, an increase that has translated into a net turnover of more than 8.2 million euros. It has also shown an improvement in the EBITDA, with an increase of 143.32% compared to 2018, reaching 3.11 million euros.
FacePhi’s biometric technology is present in more than 25 countries and has more than 10 million users worldwide. It is estimated that thanks to its technology, over 850 million user authentications have been performed. The company’s client portfolio covers now more than 40 entities belonging to the financial and healthcare sector.