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EnterNext, the Euronext subsidiary designed to promote and grow its market for SMEs, today celebrated the listing of AwoX, a pure player in connected objects and technologies for the Smart Home, on Euronext’s regulated market in Paris (compartment C).
Founded in 2003 by Alain Molinié and Eric Lavigne, AwoX designs hybrid connected objects and technologies for the Smart Home. Since spring 2013, the company has marketed its own range of connected objects under the AwoX Striim name, focusing on three related areas—lighting, audio and video.
Recognised as an innovative company by BpiFrance, AwoX has invented products including the AwoX StriimLIGHT WIF, a hybrid light bulb combining sound and light that won the CES Innovations 2014 Design & Engineering Award at the CES trade show in Las Vegas in January 2014. AwoX has also become the key player in wireless connectivity technology under the DLNA (Digital Living Network Alliance) worldwide standard, and is now a life member of the DLNA Board of Directors and the head of the Certification Committee.
AwoX (ticker symbol: AWOX) was listed through the admission to trading of the 2,454,392 ordinary shares making up the company’s equity and 1,109,535 new shares issued under a Global Offering, including full exercise of the extension option and the over-allotment option.
The company’s IPO was targeted at both French and international institutional investors, as well as individual investors. Total demand was €107.3 million, and the offer was oversubscribed 5.7 times.
The admission and issue price of AwoX shares was set at €19.38 per share, at the high end of the indicative price range. Market capitalisation was around €69.1 million on the day of listing. Altogether the offering raised nearly €25 million, including €21.5 million for the capital increase.
“We would like to welcome AwoX, a Frenchtech whose expertise in connected objects has sent a gust of innovation sweeping through the Bourse. EnterNext’s teams are delighted to accompany AwoX in helping raise its profile with investors and develop its growth projects,” said Eric Forest, Chairman and CEO of EnterNext.
AwoX Chairman and CEO Alain Molinié added: “We are delighted at institutional and individual investors’ enthusiastic response to AwoX’s listing. We will use funds raised to step up our development and take advantage of the tremendous prospects ahead for connected objects sold over the internet, in particular our Smart Home line. Our aim is to make AwoX a leader in its markets for both technology and sales.”
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