Green Hydrogen Systems debuts on Nasdaq Copenhagen
Green Hydrogen Systems debuts on Nasdaq Copenhagen. Source: Green Hydrogen Systems A/S
Green Hydrogen Systems A/S will raise up to DKK 1.265 billion (USD 203m/EUR 170m) in gross proceeds from its initial public offering (IPO) on Nasdaq Copenhagen, based on the results announced by the company on Thursday.
The Danish electrolysers maker said that a total of 27.5 million new shares have been subscribed for in the offering at a fixed price of DKK 40.00 apiece. Provided that the granted over-allotment option is exercised in full by July 17, the total number of shares will exceed 31.6 million. The free float will range from 42% and 44.9%.
Today is the first day of trading of temporary purchase certificates under the symbol “GREENH TEMP”, while the official listing of the company’s shares will occur on June 22 under the symbol “GREENH”.
The offering, which gives Green Hydrogen Systems a market value of DKK 3.1 billion, has attracted substantial interest from both Danish retail and Danish and international institutional investors, the company noted.
“The investor dialogues have confirmed a tremendous interest for investments in a more sustainable future where green hydrogen is expected to play a central role. Green Hydrogen Systems’ focus is now to execute on our plan for growth and value creation from continued investments in R&D, manufacturing capacity and talented employees,” CEO Sebastian Koks Andreassen stated.