Corticeira Amorim

Corticeira Amorim is the world’s largest cork processing Group. Incorporated in 1870, the Company currently has a direct presence in 28 countries across the five continents. It exports a vast array of products and applications to more than 100 countries and has a diversified network of 30,000 customers. Having strong sustainability credentials and contributing positively to climate sustainability, Corticeira Amorim provides a set of solutions, materials and applications to some of the world’s most technological, disruptive and demanding areas of activity, such as the aerospace, automobile, construction, sports, energy, interior design and wine and spirits industries.

Capital Markets



Corticeira Amorim was listed on the Portuguese stock exchange on April 1988 and was followed by Ipocork, Amorim & Irmãos and Champcork in the same year. In 1989, a public exchange offer was launched, which provided for an exchange of Corticeira Amorim shares for the shares of the aforementioned entities.

2015, 2016 and 2019

Private Share Placements

In 2015, Corticeira Amorim made a private offering – exclusively aimed at institutional investors – by selling 7,399,262 of its own shares, which represented 5.56% of its Share Capital.

In 2016 and 2019, the Amorim Family sold part of its shares through private placements, thereby monetizing part of its investments.

Together, these private placements resulted in an increased free float of the Company, from 10% in 2014 to more than 28% in 2019, increasing its visibility and liquidity.

2020 and 2021

Green debt issues

Corticeira Amorim issued sustainability linked and green financing (commercial paper and bonds) to support green investments, raising more than €70m.

The proceeds were applied in green investments, including the environmentally sustainable management of living natural resources and land use, renewable, low carbon, eco-efficient and/or circular economy adapted products, production technologies and processes; waste management and resource efficiency; renewable energy and waste to energy.

This marked an important milestone in the Group’s sustainability strategy, reaffirming its continuing commitment to the application of ESG principles and best practices.

Main reasons for pursuing public financing

  • The public listing provided a solid and balanced financial structure, which enabled Corticeira Amorim successfully to establish its own distribution network in locations close to its main markets and customers, and to set up production units in several strategic markets, thus becoming a truly international Company.
  • The IPO and listing on the stock exchange reinforced the Company’s commitment to its investors, shareholders and other stakeholders in terms of profitability, reporting and transparency.  It has also enabled increased visibility of its activities, combined with growing scrutiny of its management and corporate governance structures, fostering the professionalization of management, the evolution of its governance model and the adoption of best ESG practices, which have ultimately led to the growth and value creation of the Corticeira Amorim Group.
  • The issuance of green debt securities, in addition to fund raising, also enabled Corticeira Amorim to lengthen the maturity of its financing, thus strengthening its permanent capital and sustainable financing component.

“In addition to strengthening the Group’s capital structure, the decision to list Corticeira Amorim on the Portuguese Stock Exchange provided essential leverage for the professionalisation of our management team; specialisation into distinct business units managed by highly qualified and motivated teams; and the redesigning of a governance model capable of safeguarding the interests of all stakeholders, including sustainable value creation for our shareholders.”

Corticeira Amorim is a successful example of a Portuguese family business that gained, through listing its share capital, a sound financial structure to achieve international expansion, improve its brand awareness and create sustainable value for its shareholders. Moreover, Corticeira Amorim has become the world’s largest cork processing Group, having an unparalleled contribution to the cork industry innovation and sustainability.

The information presented is the responsibility of the respective companies