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Thyssenkrupp: Now Not a Good Time for Hydrogen IPO

By June 17, 2022 < 1   min read  (188 words)

June 17, 2022 |

Fuel Cells Works, Thyssenkrupp: Now Not a Good Time for Hydrogen IPO

FRANKFURT – Germany’s Thyssenkrupp said on Friday it would for now not pursue an initial public offering of its hydrogen division Nucera, citing the current market environment that has already delayed numerous listings.

The conglomerate said that an IPO still remained the preferred solution to grow the business, which is a 66-34 joint venture with Italy’s De Nora.

“Considering the current stock market environment, Thyssenkrupp has decided to refrain from an IPO of Thyssenkrupp Nucera at this point in time,” Thyssenkrupp said in a statement.

Thyssenkrupp had aimed to make a decision on whether to go ahead with stock market listing of Nucera, which plans and engineers electrolysers to produce hydrogen, in the first half of 2022.

It said earlier this year it was targeting proceeds of up to 600 million euros ($631.20 million) by selling new shares in a possible initial public offering of Nucera this year, betting on the $130 billion hydrogen sector it supplies.

“An IPO remains the preferred option to benefit from the growth prospects of the business as one of the global technology leaders for green hydrogen plant solutions,” the company said.

($1 = 0.9506 euros)

SOURCE: Market Screener

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