Gardener Denver Gets Listed on New York Stock Exchange
Gardener Denver Holding Inc., a leading US based organization involved in the manufacturing and distribution of industrial equipment, technologies and other parts services globally, has completed the procedure to list its shares at the New York Stock Exchange (NYSE). The company priced its initial public offerings (IPO) of 41,300,000 shares at USD20 per share. On May 12th 2017, company started trading its stock with the ticker ‘GDI’. From the time of listing, the share price of the company has been witnessing a progressive uptick, reaching a closing price of USD22.50 on 18th May, 2017. Gardner Denver aims to raise additional funds by issuance of their shares to other industries and employees. The company offered USD100 million as deferred stock to each employ of the organization and has also allowed its employees to hold personal equity in the company.
The company has raised USD826 million through sales of 41.3 million and aims to channel these funds to repay its unsecured and secured debt. As of 31st December, the total debt attributed to the company stood at USD2,778.3 million while the cash & cash equivalents for the company amounted to only USD255.8 million. Gardner Denver is strategizing to reduce its debt so as to improve the working capital of the company.
Gardner Denver deals in production and sales of water and vacuum pumps and has presence in 34 countries globally. Over the last three years, the company maintain its dominance in the global industrial water and vacuum pumps market. The company enjoys a leading position in the global USD6 billion vacuum pumps market and controlled a revenue share of more than 15% in 2016.
According to the recently published report by TechSci Research, “Global Vacuum Pumps Market By Type (Dry, Liquid Ring, Rotary Vane and Other), By Application (Semiconductor, Industrial, Process, Thin Film, Rough, Instrumentation and Research & Development), Competition Forecast and Opportunities, 2011 – 2021”, global vacuum pumps market is projected to exhibit a CAGR of more than 5% during 2016-2021, on account of growing applications in process industries, especially in Asia-Pacific and Middle East & Africa. Dry Vacuum pumps accounted for the largest market share in 2015, followed by Liquid Ring and Rotary Vane pumps. Dry vacuum pumps are expected to witness fastest growth during 2016-2021 owing to increasing consumer demand for power efficient, durable and advanced pumping solutions.
Over the next five years, Asia-Pacific region is forecast to maintain its dominance in the global vacuum pumps market, while Middle East and Africa is anticipated to grow at the fastest rate. Major players operating in the global vacuum pumps market include Gardner Denver, Atlas Copco, Pfeiffer Vacuum, ULVAC Technologies, Inc. and Dr.-Ing. K. Busch GmbH.
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