Thyssenkrupp Hydrogen Division Nucera to Launch IPO as Early as Next Week – Sources

By June 10, 2023 2   min read  (303 words)

June 10, 2023 |

Fuel Cells Works, Hydrogen Firm Thyssenkrupp Nucera Says IRA Spurring U.S. Interest

Reuters reported in April that Nucera, a joint venture between Thyssenkrupp and Industrie De Nora, was targeting a June window for the launch of an IPO with a company valuation of up to 5 billion euros.

LONDON/FRANKFURT (Reuters) – Thyssenkrupp is set for the long-awaited flotation of Nucera, its hydrogen technologies division, as early as next week, offering a potential boost to weak European capital markets.

This is reported by several sources familiar with the matter.

The company’s management has not yet definitively decided whether to proceed with the IPO or not and it is possible that the move will be postponed until the last moment, according to one of the sources.

Thyssenkrupp, De Nora and Nucera declined to comment.

Related Story:

Thyssenkrupp Targets June Window for Hydrogen Business Nucera IPO Attempt

Nucera’s efforts come as other European companies also rush to sell shares before investors suspend operations for the summer after a prolonged shortage of new listings due to soaring interest rates and economic uncertainty.

Soda maker WE Soda and payments firm CAB Payments are attempting a listing on the London Stock Exchange, while Romanian energy giant Hidrolectrica plans an IPO at home.

In April, sources told Reuters that Nucera could be valued at between €2bn and €5bn, if the forward selling multiples of rivals Nel and ITM Power are applied.

The wide range of valuations highlights the difficulty of attributing a price to such an emerging technology.

Nucera manufactures the electrolysers necessary for the production of green hydrogen, a sector that is benefiting from the US Inflation Reduction Act and the European Union’s initiatives in support of the green energy transition.

Dealreporter previously reported that Nucera could kick off the offer next week.

Source: Reuters

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