The fact that we managed to do a successful IPO means investors must have faith in printing, related markets and Printcafe, said European managing director Robert Berkeley.
Nearly half of the cash raised (11.3m) will be used to pay off long-term debt to Creo.
Creo also bought 2.48m worth of shares issued at the IPO, taking its total stake to 30.2%.
One Tuesday 18 June, the first day of trading, Printcafes shares fell 20% from the IPO price to close at 5.36.
Printcafe applied to Nasdaq this February for this IPO, its second. It planned to raise nearly 50m with the sale of 7.5m shares (PrintWeek, 5 April).
At the beginning of June its underwriters halved the volume of shares in the IPO to 3.75m, but raised the target price.
Story by Barney Cox
Have your say in the Printweek Poll
Related stories
Latest comments
"Well done all involved... great to see the investment to increase the productivity in the same footprint- much more sustainable than popping another one up."
"From 1949 until the late 2000s Remploy had a network of government-subsidised factories that offered employment specifically to disabled people, originally often war veterans or victims of industrial..."
"Does appear an odd decision as with that level of shareholder funds they would be liable for the staff redundancy and cover the insolvency costs. It’s not like they could take the money and dodge..."
Up next...
Andrew Whyte takes reins
MBO at LT Print Group ensures smooth transition
Educational day in Yorkshire
Northern Stationers see historic print and more in York
Supporting growth in new and existing markets
WTTB backs digital intentions with new e-commerce specialist
Investment in e-commerce fulfilment