Thyssenkrupp may launch Nucera IPO in June - report

German industrial group Thyssenkrupp AG (ETR:TKA) intends to initiate a process to list its hydrogen subsidiary Nucera in June in a deal that could value the business at about EUR 4 billion (USD 4.33bn), Bloomberg reported on Wednesday.

Thyssenkrupp may seek to sell new Nucera shares worth at least EUR 500 million, Bloomberg said, citing people in the know. The transaction could fetch up to EUR 750 million if Thyssenkrupp decides to divest a portion of its interest.

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Following the potential initial public offering (IPO), Thyssenkrupp is expected to keep a majority stake in the hydrogen business.

Reportedly, Citigroup and Deutsche Bank are taking the lead in managing the IPO, while Commerzbank, UniCredit and Societe Generale SA act as joint bookrunners.

Nucera specialises in alkaline water electrolysis, offering electrolysers for the production of green hydrogen from renewable energy. Thyssenkrupp decided in June 2022 to refrain from listing the business after taking into account the capital market situation at the time.

(EUR 1 = USD 1.081)