DSM-Firmenich has announced the sale of 0.135 million Robertet ordinary shares, increasing its initial offering of 0.12 million shares. Priced at €850 per share, the transaction raised approximately €115 million in gross proceeds, representing 6% of Robertet's share capital.
Following the sale, DSM-Firmenich retains a direct 1 percent stake in Robertet, whose shares are listed on the regulated Euronext market in Paris.
Although DSM-Firmenich did not detail the specific reasons for its decision to sell, the company noted that there was strong demand for the offering. This interest appears to have had a positive impact on Robertet's share price, which has risen to €889 per share since the transaction.
This sale reflects DSM-Firmenich's continued strategic moves in the specialty ingredients and fragrances sector. However, the exact implications of the reduction of its stake in Robertet remain unclear, as no further details were shared on the company's future plans or the possible reinvestment of the proceeds.
Robertet, has seen a surge in investor interest, likely driven by demand for the DSM-Firmenich offering and its subsequent impact on market valuation. The transaction underlines the dynamic nature of the specialty ingredients market and signals strong investor confidence in the sector.