Floating wind expert Hexicon says IPO substantially oversubscribed

Digital rendering of Hexicon offshore wind generation.

June 21 (Renewables Now) - Hexicon AB, the Swedish engineering firm that develops floating wind projects using its own technology, is raising up to SEK 345 million (USD 40.4m/EUR 34m), including over-allotments, in an initial public offering (IPO) to support its continued growth.

The company said on Friday that it offered 100 million newly issued shares at SEK 3.00 apiece as part of its listing on Nasdaq First North Premier Growth Market. Conditional trading commenced on June 18 under the ticker “HEXI” and the offering is to be settled on June 22.

The floating wind specialist has committed to sell up to 15 million additional shares to cover a potential over-allotment.

Hexicon noted that the offering was significantly oversubscribed and attracted strong interest from both Swedish and international institutions as well as the general public in Sweden.

Pareto Securities AB serves as sole global coordinator and joint bookrunner, while SpareBank 1 Markets AS acts solely as joint bookrunner.

(SEK 1.0 = USD 0.117/EUR 0.098)

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