GEVORKYAN, a.s. announces the successful completion of ABB, through which it obtained capital for the further development of its production capacities, technological innovation, and strengthening of its position in international markets, including investments in robotisation and automation. In line with these objectives, the funds raised will be used, among other things, to cover the recently completed acquisition in Italy. At the same time, thanks to ABB, the company increased its free float on the Prague Stock Exchange, which had been repeatedly recommended by experts as a necessary condition for increasing liquidity.
"We consider ABB to be a logical step for a company that is already listed on the stock exchange, with the aim of supporting business development and thereby increasing value for investors. Once a company decides to enter the stock market through an IPO, it is logical that over time it will also carry out a secondary offering. In our case, we did not want to take such a significant step before an opportunity for a strategic acquisition arose. We had already announced the acquisition of a factory in Bologna, with the key difference compared to previous acquisitions in Sweden and Poland being the preservation of production and the expansion of business in Italy, including projects for the local defence industry. Work on this acquisition lasted almost two years, until an agreement was reached among all parties involved in the process," says Dipl.-Ing. Artur Gevorkyan, Chairman of the Board of Directors of the company.
Information about the expansion of operations on the Italian market has now helped in winning new projects, within which multinational companies are localising their supplier networks and transferring projects for their Italian factories to GEVORKYAN, a.s. The overall progress of GEVORKYAN across Europe in today's turbulent period is in line with the company's long-term strategy of bringing certainty to customers by strengthening its position as a local supplier with a strong development base.
GEVORKYAN, a.s. would like to express its gratitude to HAVEL & PARTNERS s.r.o., WOOD & Company and Allen Overy Shearman Sterling (Czech Republic) LLP for their expert advice, professional approach and cooperation during the realization of ABB.
About GEVORKYAN
GEVORKYAN, a.s. is a leading European company in powder metallurgy, a global supplier to major multinational corporations and one of the most innovative companies in the sector worldwide. More information is available at https://gevorkyan.eu/en/.
Contact information:
Financial matters: Andrej Bátovský, andrej.batovsky@gevorkyan.sk
Media: Alexandra Hazuchová, marketing@gevorkyan.sk
Disclaimer:
The shares of GEVORKYAN, a.s. have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from such registration requirements.
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