Stock exchange debut far from amazing, but what a year for XTPL, says TFN’s Nick Westerby
A disappointing debut on Warsaw’s Main Market for technology firm XTPL doesn’t overshadow their great year.
The Wrocław based precision printer of nanomaterials moved from being listed on the NewConnect to the Main Market of the Warsaw Stock Exchange yesterday, finishing 7.73% down on the day.
Opening at 232 PLN per share, slightly down from the reference price of 233, the share trended downward early on before stabilizing and finishing trading at 215 PLN per share.
While this may not have been a glorious day the share price has risen 165.43% since last year when the price was 81 PLN per share.
The switch in listings was approved in January by KNF (The National Financial Supervision Authority) and Dr. Filip Granek, XTPL CEO is already considering a German listing too.
He said: “We already have German shareholders, we also talk to other investors who would like to support us in further development. For now, however, we have not yet made a final decision in this matter… So we do not want to make decisions rashly.”
The company which makes very small circuit boards used in everything from game consoles to medical equipment and military communication devises holds international patents that protect their position as an industry leader.
This week XTPL also celebrated opening their Silicon Valley offices in the USA. Board member Harold Hughes said of the move: “The Silicon Valley direction is natural for XTPL, including due to the concentration of companies in this area that are the leaders of the most interesting areas for the company.
“At the same time, it is a market with a unique business infrastructure and vast experience in implementing high technologies. The opening of the company in the Valley increases the credibility of XTPL in the eyes of potential US contractors, as they prefer cooperation with companies with local structures, also in the context of signing any contracts.”
On the day the WIG 20 was up by 2.04%, with fifteen out of twenty shares increasing in value. The best preforming share from the main market was logistics firm Trans Polonia SA that finished up nearly 20% at 3.64 PLN per share.
Upbeat CEO and EY Entrepreneur of the Year Dr. Filip Granek said: “In recent years, we have seen strong megatrends in the electronics sector to produce advanced devices using cost-effective and scalable methods. The implementation of the XTPL nanotechnology is the answer to this challenge.”
The company is also known for its work with futuristic technologies such as biosensors, anti-counterfeiting technology and adaptable screens which could make even the most bearish investors feel a little bullish.