Shares in night-vision goggle maker Exosens soar on its debut on Paris stock exchange

Shares in a night-vision goggle maker soared on its debut on the Paris stock exchange yesterday.

Exosens – which also makes photo sensor technology for the military – raised just under £300m for its initial public offering.

Listed European defence companies, including the UK’s BAE Systems, have cashed in during the war between Russia and Ukraine thanks to an increase in orders from armed forces.

Exosens’ surge means it is valued at around £940m. Shares closed up 12.5 per cent. 

Backers include private equity group HLD, which owns almost 53 per cent of the shares. French state investment bank Bpifrance will also take on a 4.5 per cent stake.

Back in 2020, the French government had blocked a deal that could have seen it bought by US conglomerate Teledyne.

Chief executive Jerome Cerisier said his firm will expand its work in high-end technology after recent acquisitions in that field.