Company will not offer or issue any new shares
ForFarmers B.V., Europe’s largest feed producer, will list and trade ordinary shares on Euronext Amsterdam, beginning May 24, under the symbol FFARM.
ForFarmers said it will not offer or issue any new shares in connection with the listing, so no additional capital will be drawn from the market. Before the listing, ForFarmers B.V. will become ForFarmers N.V. A ForFarmers spokeswoman said the company does not intend to list on stock exchanges in any other countries, as it does not see any benefit in doing so.
The move was approved April 15 at the annual general meeting of shareholders.
“This is a historic moment for ForFarmers. We are delighted that such a solid mandate was granted for listing on Euronext Amsterdam,” said Yoram Knoop, ForFarmers CEO, after the April 15 meeting. “We view a public stock exchange listing as a logical step in the development of ForFarmers. As an enterprise listed on the stock exchange, we will continue to communicate transparently to all the interested parties about the implementation of our Horizon 2020 strategy.”
The Horizon 2020 strategy includes a plan to make acquisitions that can position ForFarmers as the top producer in all regions where it is active.
ForFarmers reported in March 2016 that its 2015 revenue increased by 1 percent to EUR2,244.5 million (US$2,516.74 million). Its operating profit over 2015 (excluding incidental items) increased by 8.1 percent from EUR59.6 million (US$66.8 million) in 2014 to EUR64.4 million (US$72.2 million) in 2015.