Thyssenkrupp hydrogen division up 8% on first day of trading
Thyssenkrupp’s hydrogen division Nucera celebrated its first day on the stock exchange on Friday with an increase of 8% to EUR 21.60 compared to the IPO price of EUR 20 per share.
The German industrial giant’s hydrogen division has been valued at EUR 2.5bn at the price of EUR 20 per share, according to Bloomberg News, which points out that more than 30 million shares have been placed with investors.
This is Nucera’s second attempt at an IPO after last year’s attempt was derailed by an uncertain stock market environment and economic slowdown in Europe.
Nucera builds plants that generate hydrogen gas from renewable energy sources such as solar and wind.
Hydrogen is converted into electricity without greenhouse gas emissions when passed through a fuel cell or burned in a turbine, and can also be used for energy storage.
Thyssenkrupp shares are up 3.2% on Friday at EUR 7.106.