TKAMY - Thyssenkrupp to seek Nucera IPO at Euro4B value - Bloomberg

2023-05-17 09:20:31 ET

Thyssenkrupp ( OTCPK:TYEKF ) ( OTCPK:TKAMY ) jumps more than 5% in Frankfurt trading after Bloomberg reported the company plans to launch a long-awaited IPO of its Nucera hydrogen unit next month that could be valued at ~€4B.

Thyssenkrupp ( OTCPK:TYEKF ) ( OTCPK:TKAMY ) is looking to offer at least €500M worth of new Nucera shares in Frankfurt, and the additional sale of some of the company's holding could increase the total offer size to as much as €750M, according to the report .

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

The unit planned to list last year but has been forced to wait due to tough conditions for IPOs over the past 18 months.

More on Thyssenkrupp:

• Financial and valuation comparison to sector peers
• Analysis: Thyssenkrupp: A Troubled Stock With An Exceptionally Low Graham Number
• Stock price return: Up 11.5% YTD, down 21% in the past 12 months

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