Spinnova seeks to list its shares in the US
Materials technology company Spinnova has announced that it intends to launch an initial public offering for its shares in the US.
Spinnova shares are already listed in the company’s home country, Finland. It said it also now intends to have them listed on the Nasdaq Capital Market in the US.
If this goes ahead, Spinnova said its aim is to raise $15 million in new funding. It said it wanted to broaden its investor base and secure access to the US capital markets.
Co-founder and chief executive of Spinnova, Janne Poranen, said: “We have spent more than a decade developing a fundamentally different approach to textile fibre production by creating a fibre with a natural look and feel from wood and waste through a purely mechanical process, without harmful chemicals or dissolving.”
He added that a US listing, if it goes ahead, would help the company scale production, expand its licensing model, and “continue to build a global ecosystem around our technology”.
