Hydrogen de France successfully listed on Euronext Paris.
Two weeks after the confirmation of its IPO, Hydrogène de France says it has raised 132.2 million euros on Euronext Paris. The Bordeaux-based hydrogen-electricity company, now valued at 426 million euros, set the share price at 31.05 euros.
After the independent producer of green electricity Neoen,which had raised 628 million euros in October 2018, the introduction on Euronext Paris of Hydrogène de France would be the 2nd largest in ten years for a cleantech company, the clean technology sector, according to the pioneering hydrogen-electricity company.
The Bordeaux company aimed to issue 3.7 million new shares in a price range of €22.95 to €31.05 to raise €100 million. In a second step, an option was put forward for the sale of additional shares allowing, if necessary, to raise an additional EUR 32 million. To secure the process, HDF had marked the ground with significant subscription commitments to Rubis and Teréga Solutions for 80 million euros.
Two weeks later, Hydrogène de France announced “the great success of its IPO on the regulated market of Euronext in Paris” with a share price set at €31.05, the highest assumption.
Overall demand amounted to 6.3 million securities,representing an overalloversubscription rate of 1.7 times the number of securities offered and a demand of 161.1 million euros for institutional investors in France and abroad and 35.3 million euros for individuals in France.
This will enable the company to achieve without difficulty its objective of a capital increase of 132.2 million euros raised, including 17.2 million from the extension clause. This amount may be increased to EUR 152 million in the event of the over-allotment option being triggered by its directors. This introduction on Euronext now values the SME of 25 employees, based in Lormont, at 425.7 million euros.
Two weeks later, Hydrogène de France announced “the great success of its IPO on the regulated market of Euronext in Paris” with a share price set at €31.05, the highest assumption. Overall demand amounted to 6.3 million securities,representing an overalloversubscription rate of 1.7 times the number of securities offered and a demand of 161.1 million euros for institutional investors in France and abroad and 35.3 million euros for individuals in France.
This will enable the company to achieve without difficulty its objective of a capital increase of 132.2 million euros raised, including 17.2 million from the extension clause. This amount may be increased to EUR 152 million in the event of the over-allotment option being triggered by its directors. This introduction on Euronext now values the SME of 25 employees, based in Lormont, at 425.7 million euros.
Damien Havard.
We are very happy and proud of the trust shown in us by French and foreign institutional investors, as well as the many individual shareholders, by participating widely in our IPO.
“With this operation, the company hasacquired the financial meansto accelerateits development in thehydrogen-electricity market, which is booming in all regions of the world. A global pioneer in the sector, Hydrogène de France intends to take advantage of the strategic positions acquired.”
The latter clearly aims at the leading position in the emerging market for continuous or on-demand hydrogen and renewable power plants and aims for €100 million in turnover in 2025, fifty times more than in 2020. The company also plans to build a high-power fuel cell plant in Bordeaux Métropole as early as next year.
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Hydrogène de France succeeds in its introduction on Euronext Paris, June 24, 2021
