Industrie De Nora to Launch IPO This Month

   By Ed Frankl 
 

Italian green-hydrogen specialist Industrie De Nora SpA said Monday it intends to list its shares in Italy by the end of June.

The listing at the Euronext exchange in Milan will consist of newly issued ordinary shares via a capital increase as well as a sale of shares by major shareholders the De Nora family and Snam SpA, the Milan-based company said.

The offering will also be composed of a private placement reserved for "qualified investors" in Italy, alongside institutional investors world-wide, De Nora said.

The proceeds from the capital increase will be used to support its strategy, including funding organic growth, funding acquisitions and strengthening its share capital, the company said.

The total number of shares to be offered will be decided before the launch, it said.

De Nora is a supplier for the production of green hydrogen through electrolysis, which splits water into hydrogen and oxygen.

Earlier this year, De Nora's joint venture with Thyssenkrupp AG rebranded as Nucera as it prepared for its own initial public offering this year.

Write to Ed Frankl at [e-mail]

(END) Dow Jones Newswires

June 06, 2022 02:54 ET (06:54 GMT)

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