Strengthening Theon International's Market Position with Share Placing
Theon International's Strategic Share Placing Initiative
Theon International Plc, also known as Theon, has recently seen a significant development in its shares, thanks to its majority shareholder, Venetus Limited. This strategic move by Venetus is designed to enhance the free float of Theon’s stock and improve liquidity, a crucial aspect for attracting more investors and enhancing market participation.
Details of the Share Placing
On June 4, 2025, it was announced that Venetus successfully completed the sale of approximately 3.73 million shares, translating to around 5.3% of Theon's share capital. This represents a remarkable upsizing from earlier forecasts, showcasing the strong demand for Theon shares among investors.
Importantly, Venetus does not intend to retain any proceeds from this transaction. Instead, the intention is primarily directed towards increasing the free flow of shares in the market. Such an initiative is expected to bolster trading liquidity, which is beneficial for current shareholders and prospective investors alike.
Who Are the Key Players?
The transaction involved several significant financial institutions. Berenberg and UBS Europe SE acted as Joint Global Coordinators and Joint Bookrunners, providing assurance and structure to the placement process. WOOD & Company Financial Services A.S. contributed as Co-Bookrunner, while Marex SA and Pantelakis Securities SA served as Co-Lead Managers, ensuring that the structuring of this share placement was carried out smoothly and efficiently.
Post-Transaction Overview
Once the placement is settled, Venetus and CHRE Investment Limited, a company associated with CEO Christianos Hadjiminas, will collectively hold around 70.0% of Theon’s share capital, leaving an increased free float of 30.0% available on the market. This shift is expected to significantly improve trading volumes, enabling investors to buy and sell shares with greater ease.
Pricing and Lock-Up Period
The shares were priced at Euro 31.1 each during this accelerated bookbuilding process. The settlement is anticipated to take place on June 6, 2025. To maintain market stability post-placing, Venetus and CHRE will adhere to a 90-day lock-up period concerning sales of any additional shares of the Company, although customary exceptions may apply.
Responses from Leadership
Christian Hadjiminas, CEO and Founder of Theon, expressed his satisfaction regarding the overwhelming interest in the placement, which saw nearly double the demand compared to a previous transaction earlier that year. He noted, “We believe the increased free float will enhance trading liquidity and support our positive market momentum. We remain committed to executing our long-term growth strategy and increasing shareholder value.”
About Theon Group
Founded in 1997, Theon Group specializes in the development and manufacturing of innovative night vision and thermal imaging systems tailored for defense and security applications. The organization's robust presence spans multiple continents, including production facilities in Greece, Cyprus, Germany, and beyond. With over 200,000 systems active across 71 nations, including 26 NATO countries, Theon has established a reputation as a leader in its field.
As of February 2024, Theon International has been publicly listed on Euronext Amsterdam under the ticker symbol THEON. This listing not only affirms its commitment to transparency in operations but also enhances its visibility in international markets.
For Further Inquiries
For any investor relations or media inquiries, Theon International provides a dedicated contact system. Nikos Malesiotis leads investor relations, reachable via email at ir@theon.com or through telephone at +30 210 6772290. For media-related questions, Elli Michou can be contacted at press@theon.com or by phone at +30 210 6728610.
Frequently Asked Questions
What is the purpose of the share placement by Venetus?
The share placement aims to increase the free float and improve the liquidity of Theon’s shares in the market.
How many shares were sold in the placement?
Approximately 3.73 million shares, equating to around 5.3% of Theon's share capital, were sold.
Who were the financial institutions involved in the placement?
Berenberg and UBS Europe SE acted as Joint Global Coordinators, while WOOD & Company Financial Services A.S. was a Co-Bookrunner, alongside Marex SA and Pantelakis Securities SA as Co-Lead Managers.
What will be the percentage of free float after the placement?
The free float is expected to increase to 30.0% after the completion of the placement.
How can I get in touch with Theon International?
For inquiries, investors can contact Nikos Malesiotis at ir@theon.com or reach Elli Michou at press@theon.com for media-related queries.
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