Explore and follow profiles from this article to get timely updates:
Investors gave Savox a positive reception on its first day of trading, pushing the defense communications company's shares above their IPO price following a heavily oversubscribed offering.
Savox shares opened at €10.90 on Nasdaq Helsinki's Prelist market today, 1.7 percent above the final subscription price of €10.72. By 10:24 a.m., the stock had traded between €10.75 and €11.06, giving the company an intraday market value of as much as €196 million. At the time of writing, shares were trading at around €10.85, with volume exceeding two million shares and turnover reaching €21.6 million.
The market debut follows strong demand for Savox's IPO. The company announced yesterday that both its share offering and secondary share sale had been multiple times oversubscribed.
The listing adds another data point suggesting investor appetite is returning to Finland's IPO market, particularly for companies exposed to defense and security spending, as Listeds reported earlier. Savox develops mission-critical communications systems used by military, public safety, and industrial customers. In 2025, the company generated revenue of €56.1 million and adjusted EBIT of €7.7 million, with defense accounting for just over half of sales.
Before the offering, institutional investors including Elo, Tesi, DNB Asset Management, Danske Invest Finnish Equity Fund, and Protean Funds Scandinavia had committed around €26 million to the transaction.
The stock's first day performance suggests those investors were not alone in seeing room for further growth.
Stay on the pulse, catch the signals
Subscribe to Listeds Leadership Intelligence Platform:
leader and company database access
email alerts
career, boards and interim opportunities