On 25 March 2021, Ekopak launched its direct listing on Euronext Brussels and a private placement. The private placement period was closed on 30 March 2021, and the transaction closed on 6 April 2021. The gross proceeds of the private placement amount to approximately EUR 50 million. Ekopak will use this to support its strategic growth objectives, specifically (i) to support the roll-out of its WaaS business, (ii) to support working capital requirements for non-WaaS solution growth and (iii) to fund potential M&A opportunities and for general corporate purposes.
Ekopak is an ESG-driven off-grid water solution company. Its solutions allow industrial customers to reduce their water consumption in a sustainable, reliable and cost-effective manner. Ekopak focuses on optimising customer water use through containerised water purification units that transform off-grid water sources such as rainwater, surface water and/or wastewater into cleaner water that can be used and reused in the customer’s industrial processes. By allowing water to be cleaned and reused, Ekopak’s systems turn water consumers into water producers. The resulting circular water systems save customers money by producing clean water for industrial processes at a substantially lower cost per cubic metre than traditional tap water sources.
The transaction in figures:
- placement price of EUR 14.00 per share;
- 3,571,428 new shares were issued with a total value of approximately EUR 50 million, with approximately EUR 18 million allocated to pre-committed investors in exchange for guaranteed allocations;
- 214,286 existing shares were sold by Ekopak’s historic majority shareholder to investors in the private placement.
Eubelius advised Ekopak on its successful listing on Euronext Brussels and the private placement. This was the first listing on Euronext Brussels in 2021, and the latest in a series of equity capital market transactions assisted by Eubelius in 2021 following amongst others the Xior rights issue in March 2021 and the accelerated bookbuilding of new shares in Warehouses De Pauw in February 2021.
The team members involved in this transaction are Joris De Wolf, Lars Van Bever, Anthony Van Besien, Anouk Kerkhofs, Michiel Stuyts and Christophe Janssens.
For more details, see the articles published in De Tijd (in Dutch): “Ekopak combineert beursnotering met focus op duurzaamheid” and “Ekopak schiet hoger bij beursdebuut” and L’Echo (in French): “Ekopak précise son arrivée sur les marchés boursiers” and “Vague d’enthousiasme pour l’entrée en bourse d’Ekopak”.
