Thyssenkrupp hydrogen unit eyes up to $687 mln in possible share sale proceeds – Reuters

January 13, 2022 by No Comments

A logo of Thyssenkrupp AG is pictured at the company’s headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo

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FRANKFURT/DUESSELDORF, Jan 13 (Reuters) – Thyssenkrupp (TKAG.DE) unit Uhde Chlorine Engineers aims to rake in up to 600 million euros ($687 million) by selling new shares in a possible initial public offering this year, betting on the booming hydrogen sector it supplies with equipment.

This would correspond to a stake of roughly 10-20% based on a valuation range of 3 billion to 6 billion euros that analysts have put on the division, which is being rebranded Thyssenkrupp Nucera and could be listed on the stock exchange in spring.

The 500 million-600 million euros in potential proceeds from new shares does not factor in the sale of existing stakes by current owners Thyssenkrupp and Italy’s De Nora (IPO-DENR.MI), which own Thyssenkrupp Nucera in a 66/34 split.

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“Demand is huge. We want to use that opportunity,” Denis Krude, CEO of Thyssenkrupp Nucera, told Reuters ahead of a capital markets day later on Thursday where investors will be provided with a deeper look at the business for the first time.

Thyssenkrupp first floated the idea of an IPO of its hydrogen business in May last year. read more

“We are a technology leader for electrolysis and …….



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