Mycronic considers listing Axxon
Mycronic says that it will investigate the possibility of listing Axxon – the core of the High Volume division – on the STAR market of the Shanghai stock exchange and floating a minority stake.
The company says that if feasible, the listing could take place during 2024.
Mycronic acquired Axxon back in 2016, and since then it has developed very successfully. A net sales compound annual growth rate of 39%, with healthy profitability, has brought Axxon to a very comfortable market position in dispensing for the electronics industry.
Axxon has largely operated independently as a Chinese company with its own IP, R&D and operations. The Swedish company says that by listing and floating a minority stake on the STAR market in Shanghai, Axxon would be able to further strengthen its brand and market position in China and the rest of the world.
“The reason for investigating a possible listing of Axxon on the STAR market of the Shanghai stock exchange is to create the best possible conditions for Axxon to realize its success and full potential, by being more independent and having the means for fast expansion”, says Anders Lindqvist, Mycronic’s President and CEO.