Paris, 28 January 2025 - Virtualware (EPA: MLVIR), a pioneer in 3D-driven enterprise software, today initiated its uplisting process to the Euronext Growth segment.
Speaking from Madrid, Unai Extremo, the company's CEO, emphasized that the move aims to enhance market liquidity and investor access.
Our uplisting to Euronext Growth is a calculated step in our Strategic Plan we made public a few months ago," Extremo said. "It reflects our commitment to providing greater liquidity and transparency to our shareholders."
The company expects receiving Euronext's approval for its listing application during the second quarter 2025, in accordance with the standard listing review process.
Euronext is a federation of exchanges comprising the Paris, Amsterdam, Brussels, Oslo, Milan, Lisbon and Dublin markets. Meanwhile, Euronext Growth is the marketplace for high-potential SMEs seeking to access European capital. As a multilateral trading platform, it allows simultaneous trading across several European financial centers within Europe.
Virtualware, founded in 2004 and one of the leading European experts in immersive and 3D technology solutions, has been listed on Euronext Access Paris since April 2023.
Since the initial listing, the company's shares have increased in value by 23.33% and are currently trading at 7.40 euros. Virtualware's current market capitalisation is 33.6 million euros (35.01 million USD).
Over the past two decades, Virtualware has built sophisticated enterprise solutions for global conglomerates and institutions, including GE Vernova, Petronas, Volvo, Gestamp, Alstom, ADIF, Bosh, Biogen, Kessler Foundation, Invest Windsor Essex, McMaster University, and the Spanish Ministry of Defense.
During this period, its software solutions have become synonymous with cutting-edge 3D enterprise.
By providing comprehensive tools and expert support, such as VIROO and Simumatik, the company enables businesses and institutions to seamlessly integrate advanced visualization and simulation technologies such as extended reality (XR), digital twin, and virtual commissioning into their operational workflows.
In October 2024, Virtualware acquired Swedish company Simumatik, expanding its capabilities in digital twin and simulation tech. This acquisition aligns with the company's three-year Strategic Plan to support key industries such as energy, automotive, transportation, defense, manufacturing, education, and healthcare.
An independent research report by Litchfield Hills Research from the United States has reiterated a "Buy" recommendation with a target price of €12.00 per share.
The company's headquarters are in Bilbao, Spain, with offices in Orlando, US, Toronto, Canada, and in Skövde, Sweden.
LKS Next will act as the transaction listing sponsor for this uplisting process.
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