Cleary Gottlieb represented the underwriters in Afyren’s initial public offering on Euronext Growth Paris.
The transaction closed on September 30, 2021.
The IPO consists of a primary offering of approximately €66.5 million, which may be increased to approximately €72.8 million if the overallotment option is exercised in full. Berenberg and Portzamparc acted as joint global coordinators, joint lead managers, and joint bookrunners in the offering. This transaction is the first French Tech120 IPO outside Next40.
Afyren is a sustainable chemistry (greentech) company that offers innovative solutions for replacing petroleum-based ingredients with non-food biomass products, in line with a circular, low-carbon economy approach. Using natural microorganisms, Afyren’s solutions help produce a family of seven entirely bio-sourced organic acids, as well as one high-value-added fertilizer.