(CercleFinance.com) – thyssenkrupp nucera, a specialist in electrolysis equipment for the production of green hydrogen, was on the rise on Friday on the Frankfurt Stock Exchange for its first day of trading.
While the group had set Wednesday evening at 20 euros the price of its share for its initial public offering (IPO), the title was trading around 21.7 euros late Friday morning, an increase of more than 8%.
At this price level, the group’s market capitalization stands at just over 2.7 billion euros.
‘nucera could reach a valuation of €3.5 billion over a 12-18 month time horizon provided it reports new order intake, executes its existing backlog as planned and maintains its growth trajectory without penalizing its profitability too much’, believe Baader’s analysts.
With its launch, thyssenkrupp nucera has raised around 560 million euros, an amount that the group intends to devote to its investments in industrial alkaline electrolysis, a sector that it considers promising.
The industrial conglomerate thyssenkrupp, which owns about 50% of thyssenkrupp nucera, did not benefit from the success of the IPO of its subsidiary: around 11:45 a.m., the title of the diversified group rose only 0.3%.
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