Savox plans to launch an IPO and list on Nasdaq Helsinki as the Finnish maker of critical communications systems seeks funding for its next phase of growth.
The planned transaction consists of a share issue worth approximately €30 million and a secondary share sale by Savox S.A., the company's largest shareholder and an entity controlled by Chairman Paul Ehrnrooth, the company announced today.
The planned listing comes as activity begins to return to Finland's IPO market following a prolonged slowdown. Earlier this year, Auroora Group listed on Nasdaq Helsinki, while investment company KPY opened subscriptions for its First North offering this week.
Bittium, Savox's listed peer in Helsinki, has been performing strongly, surging almost five times in value in the past 12 months.
Savox said Danske Invest Finnish Equity Fund, DNB Asset Management, Elo, Protean Funds Scandinavia, and Tesi have committed to subscribe for around €26 million of shares, subject to certain conditions, including a pre-money valuation of no more than €160 million.
Savox generated revenue of €56.1 million in 2025 and reported adjusted EBIT of €7.7 million. Defense accounted for 51 percent of revenue last year as the company expanded its presence in military communications systems.
At the end of March, Savox reported an order backlog of around €61 million, including €35 million in confirmed orders and €25 million in options that management considers likely to materialize.
The company said proceeds from the offering would be used to strengthen its balance sheet, support customer and development programs, and provide additional financial flexibility. Savox is targeting average annual revenue growth of at least 20 percent through 2030 and an operating margin above 20 percent over time.
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