TKAMY - Thyssenkrupp's Nucera IPO priced at Euro20/share
2023-07-05 14:57:34 ET
Thyssenkrupp ( OTCPK:TYEKF ) and Industrie De Nora said Wednesday they set the final IPO price of their Nucera hydrogen Nucera joint venture at €20/share ($21.72), implying a market capitalization of ~€2.5B ($2.75B).
The company expects to raise up to €605M, making the IPO one of Europe's largest so far this year; up to 30.3M shares will be sold as part of the IPO, with an expected free float of 24% of the company's share capital.
Thyssenkrupp ( OTCPK:TYEKF ) will continue to retain a majority stake in the company after the IPO.
The stock is due to start trading on Friday on the Frankfurt Stock Exchange.
More on Thyssenkrupp:
- Financial and valuation comparison to sector peers
- Analysis: Thyssenkrupp Does Not Know What Kind Of Company It Wants To Be
- Stock price return: Up 25.5% YTD, up 35% in the past 12 months
For further details see:
Thyssenkrupp's Nucera IPO priced at €20/share