Asla is a manufacturer of cold-rolled zinc coils as well as cut-to-length zinc sheets. The company was founded in 2006, but it was only in 2010 that it was able to start production. In 2015 it signed several agreements with distributors in the USA and the UK, which allowed it to enter new geographical markets. Today, it has a workforce of 108 employees.
Asla has become the world's third largest producer of rolled zinc in a highly concentrated sector. It currently has a presence in more than 35 countries, 97% of its business comes from abroad, and part of its strategy is to further increase its exports through international expansion in the USA, Italy, China, Korea, Japan, the UK, North Africa, the Middle East, Russia and Eastern Europe.
The company made its market debut last year with a bond placement in Luxembourg for 1.818 billion euros and is now making its debut on the stock exchange after completing an initial public offering of 1.818 billion euros. capital increase 30%, which allowed it to raise 14.06 million between nominal value and issue premium, and to incorporate as new shareholders 635 small and medium-sized investors who have joined the company's reference shareholders.
The financial years 2014, 2015 and 2016 show the growth of a project in expansion, in which the gradual launch of new products developed internally, together with their consolidation, has led to significant annual increases in Net Turnover, rising from 50 million euros in 2014 to more than 63 million euros in 2016.
Its financial data also reflect the significant investments, some of which are still in progress, that it has had to make in order to be able to install new production lines. Thus, the composition of "Long and short-term debt" in the balance sheet at 31 December 2016 mainly corresponds to the aforementioned bond issue, the Reindustrialisation and Competitiveness loans granted to the Company by the Ministry of Economy and Industry in various calls and the debt held with certain suppliers of fixed assets.
Asturiana de Laminados was floated on the MAB on 19 June, with a reference price of 1.5 euros per share. This price represented an initial capitalisation of 38.5 million euros. At the close of the first trading day, the price stood at 2 euros per share, which implied a revaluation of 33.3%. Today the price stands at €1.9/share. In the previous days, the share price had been reduced by the exit of an investor.
This is the company's first Mab listing so far this year. Among the reasons that have encouraged the company to list on Mab are: The possibility of strengthening its capital structure to be able to access financing, facilitating liquidity for minority shareholders, ability to attract new investors and facilitating the mechanism of an objective valuation.
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