I-Tech wins IPO of the Year 2018 award for share price development
On May 22, I-Tech AB was named as the winner of the SvD Börsplus IPO-guide IPO of the Year 2018 Award in the Share Price Development category for the small company class. I-Tech also took fourth place, out of a total of twenty companies, in the IPO of the Year Award in the Quality category for the small company class.
SvD Börsplus IPO guide, a service available for all investors with an instant overview of all relevant facts regarding upcoming IPOs, conduct a review of all Swedish IPOs during the year and award prizes for the best IPOs in different classes and categories.
Each year, winners of the SvD Börsplus IPO-guide Awards are announced for companies and financial advisors in the Share Price Development and Quality categories. These two categories are divided into three classes of companies in the Billion-SEK companies, Small companies and Micro companies segments.
Share price development is measured from the date of the IPO and 12 months ahead or at the latest April 30, 2018. In the Quality class, companies are ranked firstly after the lowest number of ‘warning flags’ and secondly after share price development.
“We are very happy that the market has showed great confidence in us and that the share price has had such positive development. We are also proud of the high ranking in the Quality class,” says Magnus Henell, CFO, I-Tech.
Erik Penser Bank acted as the financial advisor during I-Tech’s IPO process. They received the SvD Börsplus IPO-guide Best Financial Advisor award in the Quality category for the small company class for work, amongst others, conducted during I-Tech’s IPO.
Selektope® introduces, for the first time, a pharmacological mode of action to combat barnacle settlement. By temporarily stimulating the octopamine receptor, the barnacle larvae’s swimming behavior is activated and the organisms are deterred from the hull. These ground-breaking discoveries enable unrivalled power at very low concentrations, yet within the limits of rigorous risk assessments. Selektope® is an organic, non-metal compound with efficacy proven at 0.1%. www.selektope.com.
About I-Tech (publ)
I-Tech is a biotechnology company that has developed the product Selektope®, an active agent that prevents barnacle on submerged surfaces such as ships and boat hulls, but also other marine installations. By increasing the resistance to barnacle growth in marine paint systems (e.g antifouling coatings), fuel and maintenance costs are reduced. I-Tech has obtained the necessary regulatory approvals for Selektope® and has several of the world's largest manufacturers of marine antifouling coatings as customers. The company's share is listed for trading on Nasdaq First North in Stockholm with Erik Penser Bank as Certified Adviser, phone: +46 (0)8 463 83 00, email: firstname.lastname@example.org. www.i-tech.se.