30th Jan 2020 11:18
(Alliance News) - Renewi PLC said its shares began trading on Euronext Amsterdam on Thursday in a bid to improve liquidity by making it easier for European investors to buy shares.
Renewi, a waste-to-product business, has placed no new shares and remains on the premium segment of the Official List in London.
This secondary listing is intended to "give continental European investors easier access to buy shares in euros in Amsterdam".
Overall, around 65% of Renewi's group revenue comes from the Netherlands. The company explained that the Benelux region - Belgium, the Netherlands, and Luxembourg - "is one of the only large-scale pure play recyclers in the world" and the deal is hoped to increase share liquidity by raising Renewi's Benelux profile.
Chief Executive Otto de Bont said: "We are delighted to have completed the secondary listing, a natural development reflecting Renewi's core Benelux presence. Through government legislation and the demands of consumers and companies for sustainable solutions, the Benelux is driving the circular agenda. The secondary Euronext listing will provide greater access for European investors, including those who are increasingly focused on [environmental, social, and governance] investing and the green proposition."
De Bond added: "We look forward to capitalising on our enhanced Benelux focus and increasing our profile amongst the wider European investment community."
Shares in Renewi were up 1.0% at 36.45 pence in London on Thursday.
By Anna Farley; [email protected]
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