Thyssenkrupp Nucera IPO is the largest in Europe for this year. Thyssenkrupp (OTCPK:TYEKF) and Industrie De Nora said on Wednesday, they set the final Thyssenkrupp Nucera IPO price a joint venture of Nucera hydrogen unit at 20 euro per share ($21.72), implying Thyssenkrupp Nucera market value of around 2.5 billion euros ($2.75B). De Nora currently holds 34 percent of the Nucera subsidiary.
German industrial giant Thyssenkrupp on Wednesday fixed the Nucera IPO price for shares in its hydrogen unit Nucera for what will be one of the largest initial public offerings so far this year in Europe.
Thyssenkrupp Nucera valuation
The company and its shareholders, Germany’s ThyssenKrupp and Italy’s De Nora, expect to raise up to 605 million euros through the Nucera IPO shares, making it one of Europe’s largest so far this year increasing the Thyssenkrupp Nucera market value. This is up to 30.3M Nucera IPO shares will be sold as part of the IPO, with an expected free float of 24% of the company’s share capital.
Nucera said in a statement, Nucera IPO price would be at 20 euros ($21.73) as it joins the Frankfurt Stock Exchange, Thyssenkrupp Nucera valuation is at 2.53 billion euros.
Thyssenkrupp Nucera IPO news
Thyssenkrupp Nucera IPO shares on Friday will be the second largest in Europe this year, taking Thyssenkrupp Nucera valuation just behind Italian gambling firm Lottomatica’s listing in Milan, with interest in hydrogen technology growing.
Thyssenkrupp will continue to retain a majority stake in the company after the IPO.
The final Nucera IPO price of 20 euros per share comes in the middle of the indicative price range of 19 to 21.5 euros, though well below earlier expectations of a price that would have implied a market cap in excess of 3 billion euros.
Nucera CEO, Werner Ponikwar said in a statement he was “proud that in terms of placement volume,” making the Thyssenkrupp Nucera IPO the largest hydrogen IPO ever listed.
Nucera hydrogen technology
As countries around the world look at ways to reduce carbon emissions to help meet climate targets over the coming decades, hydrogen has increasingly come into focus as an alternative to fossil fuels.
Nucera produces the electrolysers, which can be used to manufacture green hydrogen made using electricity obtained through renewable energy sources such as solar or wind.
Thyssenkrupp hopes to raise around 600 million euros from the share offering. The proceeds from the Frankfurt listing will be used to support “the strong growth of Thyssenkrupp Nucera’s alkaline water electrolysis (AWE) business”, the group said previously.
Almost a quarter of the shares in Nucera will be put up for sale, while Thyssenkrupp will keep its majority stake in the unit.
Thyssenkrupp Nucera stock performance
Currently Nucera IPO price is at 20 euros, all eyes are on Friday that day it is listed on the stock market where Thyssenkrupp Nucera stock performance would be watched hawk-eyed by the analysist. We do not know what the future holds for the Nucera IPO shares but currently looking at the buzz the Nucera IPO has created Thyssenkrupp Nucera stock performance is expected to be a win-win for all.
