TKAMY - Thyssenkrupp sets Nucera IPO price range below expectations

2023-06-23 09:25:21 ET

Thyssenkrupp ( OTCPK:TYEKF ) and Industrie De Nora said Friday they set the price range for the initial public offering of their Nucera hydrogen joint venture in the €19-€21.5 range , below the expected value.

The price range corresponds to a stock market value of €2.4B-€2.7B, but previous reports had indicated Nucera was expected to be valued at more than €3B.

Up to 30.3M shares will be offered to investors, with gross proceeds of the sale expected to reach €500M-€566M.

The offer period is expected to run from June 26 to July 5, with the first day of trading scheduled for July 7.

Nucera builds plants that generate hydrogen gas from renewable sources of energy such as solar and wind.

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