ZURICH – HeiQ, a leading innovator in textiles materials technology, has announced its decision to revert to a private company structure from the London Stock Exchange. The company said this is part of a strategic move to focus its resources, streamline operations, and accelerate growth.
HeiQ’s share price has fallen 78 per cent this year and lost 97.5 per cent of its value in the past five years. The change will take effect on November 19, 2024 (LSE:HEIQ). Starting on November 20, 2024, HeiQ shares will continue trading on the JP Jenkins securities platform or a similar matching platform.
Since its initial public listing on the London Stock Exchange in December 2020, HeiQ has expanded into four new technology platforms, including precision fermentation, cellulosic fibre extrusion, particle synthesis, and chemical vapour deposition. In addition to its role in the textile industry, HeiQ has evolved into a venture incubator, advancing several high-potential technologies at various stages of readiness.
The decision to return to private ownership was unanimously approved by HeiQ’s board of directors. The company said the flexibility provided by private financing will allow it to better invest in the value creation of its high-potential ventures, such as HeiQ Synbio, HeiQ Aeoni, HeiQ GrapheneX, and HeiQ Xpectra.
Carlo Centonze, co-founder and group CEO of HeiQ, said: “Our four years as a public company have seen us acquire four companies and transform from a yield-focused specialty chemicals player with a narrow textile focus into a multi-technology platform innovation incubator with diversified market channels and long-term value creation opportunities.
“Returning to private company status will enable us to better focus on scaling and financing innovation and technology. With game-changing ventures like HeiQ Synbio, HeiQ Aeoni, HeiQ GrapheneX, and HeiQ Xpectra, we are well-positioned to seize emerging opportunities and achieve our value creation and sustainability goals.”
HeiQ said it remains committed to its core commercialized businesses, particularly in value-adding textile technologies and synbiotics for cleaning and personal care.
