FRANKFURT (Dow Jones) — Thyssenkrupp’s hydrogen subsidiary will be valued at up to 2.7 billion euros in the upcoming stock market listing. As the group announced, the price range per Nucera share is 19.00 to 21.50 euros. A good 30.26 million shares are to be offered from June 26 to July 5. This results in gross proceeds of between 500 million and 566 million euros. The overall valuation is between 2.4 billion and 2.7 billion euros. The first day of trading in the Prime Standard of the Frankfurt Stock Exchange is planned for July 7th.
The offer includes a good 26.3 million shares and almost 4 million papers from the possession of existing shareholders. Citigroup and Deutsche Bank have been mandated as joint global coordinators, Commerzbank, Societe Generale and Unicredit as joint bookrunners.
“Thyssenkrupp AG intends to remain a committed shareholder of Thyssenkrupp Nucera and to hold a majority stake in the provider of electrolysis plant technology (…)”, it continues.
Thyssenkrupp Nucera was originally supposed to be listed on the stock exchange last year, but after the start of the war in Ukraine the market environment proved too uncertain for such a step. Nucera sees itself as a leading technology provider for chlor-alkali electrolysis. The company with more than 600 employees develops plants for the production of hydrogen, which will play a major role in the decarbonization of industry and the energy sector.
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DJG/kla/sha
(END) Dow Jones Newswires
June 23, 2023 02:32 ET (06:32 GMT)
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