ABB - ABB again postpones planned IPO of e-mobility business

ABB (NYSE:ABB) announced on Monday another delay of the planned IPO of its electric vehicle charging business due to turbulent market conditions, and gave no timeline for when it might proceed with the listing. "The listing of the business remains an important part of ABB's strategy," the company said. "ABB is monitoring market conditions and is fully committed to proceed with a listing of the business on the SIX Swiss Exchange as and when market conditions are constructive." ABB (ABB) said earlier this year it expects to raise at least $750M from the offering and planned to invest the funds for further growth to expand the business while maintaining a majority stake. The company first delayed the e-mobility IPO just two weeks ago.

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ABB again postpones planned IPO of e-mobility business