Shares of a maker of night vision glasses soared yesterday in their debut on the Paris Stock Exchange.
Exosens, which also makes photosensor technology for the military, raised just under £300m for its initial public offering.
Listed European defense companies, including Britain’s BAE Systems, have cashed in on the war between Russia and Ukraine thanks to a surge in orders for the military.
Exosens’ rise means it is valued at around £940m. Shares closed up 12.5 percent.
Among the sponsors is the private equity group HLD, which owns almost 53 percent of the shares. French state investment bank Bpifrance will also take a 4.5 percent stake.
Looking ahead: Exosens’ rise means it is valued at around £940m
In 2020, the French government had blocked a deal that could have been bought by the American conglomerate Teledyne.
Chief Executive Jerome Cerisier said his company will expand its work in cutting-edge technology after recent acquisitions in that field.
