By Reuters Staff
3 Min Read
FRANKFURT (Reuters) - German energy infrastructure firm Friedrich Vorwerk plans an initial public offering (IPO) on the Frankfurt stock exchange in the first quarter to accelerate growth in the hydrogen market, its biggest shareholder said on Monday.
The company, a subsidiary of industrial firm MBB, aims to raise about 90 million euros ($107 million) from newly issued shares as well as shares from existing owners.
The listing could value Friedrich Vorwerk at 800 million to 1 billion euros, three sources close to the deal said.
The company declined to comment on the valuation.
MBB said the hydrogen and electricity businesses were expected to benefit from “substantial investments in light of the clean energy transition”.
MBB SE subsidiary FRIEDRICH VORWERK plans Initial Public Offering to accelerate growth in the hydrogen market
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German firm Friedrich Vorwerk plans IPO to expand in hydrogen market
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