Thyssenkrupp on Monday launched the long-awaited listing of its hydrogen division Nucera, targeting proceeds of up to 600 million euros ($645 million) via the sale of new shares.
Photo d'archives montrant le logo de ThyssenKrupp au siège social de ThyssenKrupp à Essen, en Allemagne. /Photo prise le 17 novembre 2022 à Essen, Allemagne/REUTERS/Thilo Schmuelgenon Monday launched the long-awaited listing of its hydrogen division Nucera, targeting proceeds of up to 600 million euros via the sale of new shares.
The initial public offering is expected to be completed before the summer break, depending on market conditions, the company said.Sources told Reuters in April that Thyssenkrupp was targeting June for a new attempt at the listing of Nucera, which is a 66-34 joint venture with Italy's De Nora"With our electrolysis technology we want to shape a new era of the energy transition," said Werner Ponikwar, CEO of Thyssenkrupp Nucera.
The targeted level of proceeds confirms the initial IPO blueprint first outlined in January 2022, a plan that was later shelved due to weak financial markets in the run-up to the Ukraine war. Nucera engineers electrolysers that are needed to produce green hydrogen, a field where it competes with Norway's Nel
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