New shares will be issued as part of the pre-IPO private placement, ABB announced on Monday. The process will be completed before the end of 2022. The money will be used to implement the growth strategy.
According to the information obtained, Interogo Holding’s equity strategy fund, family office Moyreal and ABB E-Mobility Chairman Michael Halbherr are participating in the private sale. ABB will own more than 90 percent of the company.
“We remain committed to our strategy of listing our e-mobility business separately if market conditions are favorable,” ABB CEO Björn Rosengren said in a statement.
Rosengren stated in October that an IPO is unlikely this year due to the current volatility in the capital markets.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
