Veganz celebrates capital market debut in Frankfurt

This makes the company the first vegan food producer in Germany to be traded on the stock exchange.

Veganism has now made it to the stock exchange: Veganz Group went public on November 10. The 547,120 shares were placed with investors and private investors at a price of 87.00 euros per share. The initial market capitalization of the Veganz Group was around 106.4 million euros. On the first day of trading, however, the share lost several percent, which disappointed many investors. While the initial trading price was 86.90 euros, it had fallen to 83.40 euros by the close of trading on the first day.

The IPO has a total volume of around 47.6 million euros. The gross issue proceeds, which will now go to the Veganz Group, amount to around EUR 33.8 million. The company now intends to use the remaining net issue proceeds primarily to build a new production site near Berlin and to make investments that will benefit the company's growth.

Veganz has developed around 470 products since 2015 and is one of the best-known suppliers of vegan food in Germany. It sells confectionery, snacks, plant-based proteins, vegan meat, fish and cheese alternatives and even pizza. Just over half of the products currently on offer are labeled with an organic seal. The company also claims to produce most of its products in Europe. The commercial law firm Noerr provided legal advice to Veganz on the IPO.