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HomeLatest NewsThe German ThyssenKrupp takes a bag from its hydrogen subsidiary and shoots...

The German ThyssenKrupp takes a bag from its hydrogen subsidiary and shoots itself in its debut

Date: June 19, 2024 Time: 12:40:58

The German industrial group ThyssenKrupp took out a Nucera stock market on Friday, its hydrogen subsidiary, which rose 17.6% at the close of trading after an issue price of 20 euros per share came out. Nucera’s shares began trading on the Prime Standard segment of the Frankfurt Stock Exchange at an initial price of 20.20 euros, slightly above the issue price, and closed trading at 23.52 euros.

In some moments of the negotiation, Nucera managed to gain more than 23% with respect to the issue price. At an issue price of 20 euros per share, Nucera’s market capitalization was about 2,500 million, but in its debut on the stock market it has added about 450 million euros more. The parent ThyssenKrupp gained 4.7% in the MDAX of medium-sized companies, up to 7.21 euros.

Nucera, which is headquartered in Dortmund (western Germany) and has 600 employees, offers large-scale water electrolysis technology to transform water into green hydrogen and oxygen. The demand for green hydrogen is currently increasing due to energy transformation to reduce polluting emissions from energy from fossil sources.

Until now, ThyssenKrupp had a 66% equity stake in Nucera and the Italian De Nora the remaining 34%. Following the IPO, 24% will be free float, which will be freely traded, with ThyssenKrupp maintaining a majority stake of 50.2% and De Nora holding 25.9%. Several banks accompanied Nucera’s IPO, including Citigroup and Deutsche Bank as global coordinators, Commerzbank, Société Générale and UniCredit Bank as bookrunners.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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