Livestock health company Huvepharma, which makes health and nutrition additives for cows and other animals, has announced it will list in Amsterdam. The offering will test investor appetite for meat-based diets, writes dasha_reuters
A cow opens its mouth during feeding at the Johann Dairy farm in Fresno, California, U.S. September 10, 2020. Picture taken September 10, 2020.
Investors are being offered a hedge against plant-based diets. Livestock health company Huvepharma, which makes health and nutrition additives for cows, pigs and other animals,on Monday it will list in Amsterdam. A growing global population means the world livestock market is expected to expand by 5% a year to 2024, according to data group Vetnosis.
Huvepharma’s enzymes, food additives and vaccines produced EBITDA of 167 million euros in 2020 on sales of 588 million euros. If valued in line with London-listed Dechra Pharmaceuticals , which trades at 28 times trailing EBITDA, according to Refinitiv, Huvepharma’s enterprise value would be around 4.5 billion euros.
The offering will test the appetite of investors who have pushed up the valuations of plant-based food brands like newly-listed Oatly
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