ABB - ABB plans IPO of EV charging unit next year - Reuters

ABB ([[ABB]] -0.1%) plans to list its e-mobility division on the stock market next year in a deal that could value the unit at ~$3B, Reuters reports.The company's e-mobility business employs 850 staff and posted $220M in revenues in 2020, and has racked up an average growth rate of 50% over the past five years.Goldman Sachs estimates the unit's sales will grow to $495M next year.ABB previously announced plans for an IPO but had not given a timeline or valuation; CEO Bjorn Rosengren said in April that ABB likely would keep a majority stake after an IPO that would help the unit make acquisitions.ABB's likely growth does not justify the stock's high multiple, Wolf report writes in a new analysis posted on Seeking Alpha.

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ABB plans IPO of EV charging unit next year - Reuters