Company plans to float shares worth up to 15m euros ($17m) next year to stoke further expansion.
Science4You, which sells most of its products abroad, said it wants to list shares amounting to up to 45% of its capital – a combination of new shares and shares currently held by its owners – on the Euronext Growth market.
Euronext Growth offers small- and mid-sized companies market access with less stringent listing requirements and fees than the regulated market. It still guarantees protection to investors and is based on the same pan-European trading platform as the main Euronext cash market, enhancing liquidity.
Science4You made its announcement during the annual WebSummit, Europe’s largest technology conference being held in Lisbon for the third time. The venue has put the city and Portugal firmly on the world technology map, helping to stoke a start-up boom.
The company has annual sales of over 20m euros, and offers its products both online and through many outlets of major retailers like Target, Harrods and John Lewis.
“This operation will give us better visibility and credibility … will make our brand stronger, more recognized and capable of continuing innovation in this important global industry,” said CEO Miguel Pina Martins, adding that the firm was going through “an important phase of internationalisation”.
He expected the flotation to occur in the next few months.
Pina Martins told Reuters in 2017 he wanted to keep boosting sales by over 30% a year. The firm received 10m euros in financing from the European Investment Bank last year, and in 2015 it raised 7m euros in venture capital.