Finnish Defense Firms Explore IPOs Amid Rising Military Spending
Savox Communications and Varjo Technologies are considering initial public offerings in Helsinki to leverage increased defense budgets in Europe. Savox aims to raise approximately €100 million, while Varjo is preparing for a potentially smaller offering.
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Savox Communications Oy AB and Varjo Technologies Oy are assessing public listing options in Helsinki to capitalize on growing military expenditures in Europe. Savox, established in 1982, specializes in tactical communication systems and is seeking to raise about €100 million with the assistance of Nordea Bank Abp.
Varjo, founded by former executives from Microsoft and Nokia, focuses on virtual reality solutions for military training and has engaged banks like BNP Paribas SA for its IPO plans. Both companies are still in the preliminary stages, with decisions pending and potential offerings subject to change. Their moves reflect a strategic response to the current defense market landscape, which could influence investor interest and market dynamics in the sector.
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