Italian mask maker GVS capitalizes on coronavirus with IPO plans
While the coronavirus outbreak has put the global IPO market on ice, an Italian respirator mask maker is preparing to go public as global demand for its products soars. Bologna-based GVS sells filtration products used for healthcare services, industrial equipment, automobiles, appliances, and personal respirators across 60 countries. The company is planning a Milan IPO that could come as early as April.
Here are five other things you need to know about GVS:
- Booked €231 million ($261 million) in sales in 2019, a 9% y/y increase.
- Has sold more masks in 2020 so far than in all of 2019 ($17 million).
- Plans to expand its production line and employee headcount to increase mask output.
- Has production facilities in Italy (6% of sales), the US, UK, Brazil, China, and Romania.
- Tests its masks with an active virus.
Several other IPO-bound companies stand to benefit from the rush for pandemic supplies, including Chinese detergent and disinfectant-maker Guangzhou Blue Moon, which selected banks for a potential $1 billion Hong Kong IPO planned for this year, and US grocery giant Albertsons (ACI), which recently filed for a US IPO that we estimate could raise $2 billion.
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The article Italian mask maker GVS capitalizes on coronavirus with IPO plans originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
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