- Thyssenkrupp Nucera Aims for EUR 2.4 – 2.7 Billion Valuation with Frankfurt Stock Exchange IPO
Thyssenkrupp Nucera, an electrolysis technology provider for green hydrogen solutions, has announced a price range of EUR 19.00 to EUR 21.50 per share for its upcoming Initial Public Offering (IPO) on the Frankfurt Stock Exchange. The move comes as a joint initiative from Thyssenkrupp AG, De Nora, and Thyssenkrupp Nucera.
The offered price range suggests a total market capitalization of Thyssenkrupp Nucera, including newly issued shares, falling between EUR 2.4 billion and EUR 2.7 billion. This IPO comprises 30,262,250 shares, including potential over-allotments, 26,315,000 of which are new ordinary bearer shares.
Assuming successful execution, the gross proceeds from the sale of new offer shares will range from EUR 500 million to EUR 566 million. These funds are earmarked for investment into the company’s electrolysis business, indicating a commitment to growth and expansion.
Noteworthy is the interest from cornerstone investors, BNPP and ESC. BNPP, for instance, plans to purchase shares up to EUR 85 million at the final offer price, while ESC, a subsidiary of the Public Investment Fund (PIF), aims to acquire shares equal to 6% of the company’s share capital post-offering.
The proposed IPO is scheduled to commence on June 26, 2023, and end on July 5, 2023. Trading is expected to begin on July 7, 2023, on the Frankfurt Stock Exchange’s regulated market segment. Final pricing and shares sold will be determined based on the order book around July 5, 2023.
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