Azerion NV lists in Amsterdam at $1.2 billion market capitalisation (updated)

Azerion NV

02/02/2022 13:37

(Updates with recent earnings, banks involved. Adds photo.)
    AMSTERDAM, Feb 2 (Reuters) - Azerion Group NV, a digital
advertising and entertainment company, on Wednesday listed in
Amsterdam after its acquisition by a special purpose acquisition
company (SPAC) called EFIC1  EFIC1.AS  was completed.
    Shares in the new entity traded 2.5% lower at 9.29 euros per
share, implying a market capitalization for the company of
around 1.04 billion euros ($1.17 billion).
    Azerion, founded in 2014 and headquartered in Amsterdam,
makes software that automates the purchase and sale of digital
advertising, and also makes online games and content.
    The company reported revenue of 83.5 million euros and
adjusted earnings before interest, taxes, depreciation and
amortization (EBITDA) of 17.4 million euros for the third
quarter of 2021, its most recent reporting period. It forecasts
revenue for the full year 2021 of at least 300 million euros, a
rise of around 28% from 2020, when comparing businesses owned in
both years.
    Co-founder and CEO Atilla Aytekin said Wednesday's listing
was an important step for the company to "enter the public
markets and continue to grow and advance our platform."
    Azerion agreed in December to be bought by the SPAC run by
former Commerzbank CEO Martin Blessing, formally named European
Fintech IPO Company 1 BV.  urn:newsml:reuters.com:*:nL8N2SY1A0 
    EFIC1 was listed in March 2021.  urn:newsml:reuters.com:*:nL1N2LO0AT
    As part of the deal, Azerion received 56 million euros to be
used for growth and acquisitions. 
    Some 74.3% of the company's shares are owned by Principion
Holding BV, an entity controlled by its co-founders.
    Credit Suisse and ABN Amro advised EFIC1, while Rothschild,
Citigroup and Jeffries advised Azerion.
    
    ($1 = 0.8857 euros)


 (Reporting by Toby Sterling; editing by Jason Neely and David
Evans)
 ((toby.sterling@thomsonreuters.com;))