Borenius advised Spinnova Plc on its Nasdaq First North Growth Market Finland IPO
We advised Spinnova Plc on its EUR 100 million initial public offering (IPO) to Nasdaq First North Growth Market Finland. Trading on the company’s shares began on 24 June 2021. Spinnova’s market capitalisation was EUR 390 million immediately before the commencement of trading.
Spinnova is a sustainable textile technology company, with a unique technology platform to produce SPINNOVA® fibre from multiple raw materials. Spinnova was incorporated in November 2014, and its technology is the result of more than ten years of research and development. Based in Finland, Spinnova has developed breakthrough technology for making textile fibre out of wood or waste, such as leather, textile or food waste, without harmful chemicals. The patented SPINNOVA® fibre creates zero waste and side streams or microplastics, and its CO2 emissions and water use are minimal. SPINNOVA® materials are quickly biodegradable and circular. Spinnova is committed to using only sustainable raw materials such as FSC certified wood and waste streams.