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The price of DeNora IPO is 13.50 euros per share. Valuation of $ 2.8 billion

De Nora was founded in 1923 and specializes in electrode and water treatment techniques.

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Electrode maker Industrie DeNora, CEO, said he was “not afraid” of the current market turmoil that bravely confronts this week’s IPO.

The initial public offering price on Tuesday was € 13.50 per share, and the Italian company was valued at € 2.723 billion, or $ 2.88 billion.

“It was the right time for us. We have a great equity story, so for us … it’s the beginning of a new journey and we’re not afraid of the current market turmoil,” said CEO Paolo. Dellacha I told Julian Natatelbaum on CNBC. “We have an industrial plan to carry out.”

The company plans to open trading in Euronext Milan on Thursday and will be the first major IPO in Europe since the beginning of the war in Ukraine.

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Pan-Europe is a time of market instability Eurostoxx 600 It has decreased by more than 14% since the beginning of the year. Traders are not only responsive to both the Ukrainian conflict and its global impact, More aggressive rate hike policy By the US Federal Reserve and other central banks around the world.

Based in Milan, De Nora was founded in 1923 and specializes in electrode and water treatment technologies.

One of the areas that the company is paying attention to is the hydrogen sector, which focuses on technologies related to the production of so-called “green” hydrogen.

Hydrogen can be produced in a variety of ways. One method uses electrolysis, where an electric current divides water into oxygen and hydrogen.

If the electricity used in this process comes from a renewable energy source such as wind or solar, some call it “green” or “renewable” hydrogen.

Today, most of the hydrogen production is based on fossil fuels, but Denora’s Dejacha was bullish on the outlook for green options.

He said green hydrogen was considered “a certain competitiveness in the future” before claiming change.

“Because of the rapid increase in natural gas, we have to say that [price]Green hydrogen is now competitive. “

Dejacha’s comments are made when many large companies are trying to find ways to reduce green hydrogen production costs and make the sector competitive.

last week, Siemens Energy When Air Liquide The company announced plans to establish a joint venture focusing on the production of “industrial-scale renewable hydrogen electrolytic cells in Europe”.

I saw oil and gas super majors in June as well BP Announced that it has agreed to acquire a 40.5% stake in Asia’s renewable energy hub, a vast project planned in Australia.

“It could be one of the world’s largest renewable energy and green hydrogen hubs,” BP said in a statement, adding that it would be the operator of the development.

The price of DeNora IPO is 13.50 euros per share. Valuation of $ 2.8 billion

Source link The price of DeNora IPO is 13.50 euros per share. Valuation of $ 2.8 billion

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