Furniture seller Hannun prepares to go public
Spanish online furniture seller Hannun crafts wooden furniture from discarded wood. In order to grow further, the company has begun the process to join BME Growth. With the funds that this will raise, the company wants to acquire businesses that share its vision.
The online furniture seller Hannun was established in 2007, in Spain. It sells furniture and handicrafts made from sustainable materials. Its furniture is crafted from discarded woods, such as pieces that have fallen out of fashion, or wood that is left over after construction.
Process to join BME Growth started
In 2021, the company was generated a revenue of 4.09 million euros. Around 29 percent of that revenue came from international sales. It has already held three funding rounds, which came to a total invested amount of over 4.3 million euros.
‘The company generated a revenue of €4.09 million in 2021.’
The company will become listed on the growth companies market BME Growth. According to its published document for incorporation, this will be carried out in two ways. Loans signed in 2021, which are worth 3.78 million euros, will be capitalized in a non-monetary capital increase. Additionally, it will launch a share subscription offer for a maximum amount of 8 million euros. Together, the process is expected to raise around 12 million euros.
Plans to expand
With the listing, the company wants to accelerate its growth by allowing a greater inflow of capital. With its organic growth and brand marketing, it plans to grow geographically. It has also announced plans to acquire other companies in the sector with the same vision. However, it is unclear which companies exactly will be acquired.