On 14 September, XTPL made its début on NewConnect. Under the subscription for shares in the public offering in July, the company gained PLN 10m for the commercialization of its technology.
The total number of shares in the public offering was 155,000, including 135,000 in the institutional tranche. The retail tranche comprised 20,000 shares in total. The demand in the retail tranche was 13 times larger than the available number of shares, which translated into the reduction rate of 93%.
One of the participants of the public offering was the foreign investment fund, ACATIS Investment GmbH, which took up over 5% of XTPL’s shares. It is one the best known investment funds in Europe and its assets amount to EUR 3bn.
XTPL operates in the market of optically transparent and electrically conductive films (Transparent Conductive Films – TCF). The value of the Issuer’s market is USD 6bn and it grows by 25% per annum in the sector of photovoltaics and displays alone. The unique properties of the XTPL technology such as high transparency and scalability of the printing process will makes the company one of the key players in this sector of economy. Another target sector for the company is printed electronics.
In view of what the market needs, the XTPL technology is a revolution. Printed nanomaterials will change the rules of the game on the mainstream market of solar cells, displays and touch screens, says Dr Filip Granek, CEO at XTPL. I am convinced that fine printing of materials is the future of many sectors in which we can play a major role. Today we print books and newspapers, in future we will also print advanced electronic devices, e.g. cutting-edge sensors and anti-counterfeit solutions.
XTPL’s listing on NewConnect is another step in the company’s overall business strategy. XTPL has now completed the first stage of its project: the prototype is ready and the XTPL technology is being presented around the world. The next step is to commercialize this technology. The goal of the public offering is to support that process.
The gains from the initial public offering will allow us to establish and develop that part of the company which will generate revenue. We will focus on the production of lab printers, extension of our laboratories, establishment of the business development department and creating personalised industrial solutions, adds Dr Filip Granek.
The company has already signed several letters of intent with international businesses interested in the implementation of the XTPL technology. They include Trina Solar, the top global manufacturer of photovoltaic modules listed on the NYSE, and Wise Device Inc., the global leader of industrial microscopy automation development.