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Marel shares launched on Euronext exchange

Processing equipment manufacturer also completes a public offering worth around $420 million.

Shares in Icelandic processing equipment manufacturer Marel have begun trading on the Euronext exchange in Amsterdam, adding to the company's listing in Iceland.

Marel also completed a public offering that could eventually be worth €370 million ($420 million).

Founded in 1983, Marel posted €1.2 billion ($1.4 billion) in revenue in 2018 and has more than 6,000 employees in over 30 countries on six continents.

It is the largest company in Iceland by market value. Market capitalization stood at €2.8 billion ($3.2 billion) on the day of listing.

The food processing market in which Marel operates is forecast to grow 4-6 percent annually.

“The Euronext listing will support the next phase of our growth and better enable us to pursue our vision of a world where quality food is produced sustainably and affordably,” Marel CEO Arni Oddur Thordarson said.

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