Thyssenkrupp suspends the public offering of its hydrogen subsidiary for the time being | News

Due to the current stock exchange and capital market conditions, Thyssenkrupp is refraining from listing its hydrogen subsidiary Nucera.

However, the IPO is still the preferred option to benefit from the company’s growth prospects as one of the global technology leaders in green hydrogen production plants, the company said. However, as before, the decision also depends on the situation on the capital market.

ThyssenKrupp CEO Martina Merz announced the decision to IPO (Initial Public Offering) of Nucera in the first half of the year. The group wanted to keep the majority and raise up to EUR 600 million by issuing new shares. 66 percent of Nucera is owned by Thyssenkrupp and 34 percent by Italian partner De Nora.

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The current decision was not a surprise as the uncertainty in the markets related to the war in Ukraine and problems with the supply chain is very high. Nevertheless, Thyssenkrupp’s share of the MDAX turned negative immediately after the announcement.

Thyssenkrupp shares low for a year

Following the cancellation of the IPO, the price drop caused the support line to be re-tested at around EUR 6.65. The share price is currently trying to rebound, but the MACD (Momentum) continues to point downward. The situation on the technical chart only improves after breaking the resistance around EUR 7.50.

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