Aker's hydrogen arm to raise $350 mln ahead of Oslo listing
04/03/2021 06:59
OSLO, March 4 (Reuters) - Aker Clean Hydrogen (ACH), a
hydrogen-focused arm of Norway's Aker AKER.OL group, is set to
raise up to 3 billion crowns ($353 million) in a private
placement and to list its shares on Oslo's small cap market, its
parent company said on Thursday.
ACH aims to reach net 5 gigawatt (GW) installed capacity of
emissions-free hydrogen production by 2030, with net 1.3 GW
already under development, including a 450 MW production
facility at a Yara YAR.OL ammonia plant in Norway. urn:newsml:reuters.com:*:nL8N2KP2WO
The company plans to issue 187.5 million new shares at a
fixed price of 16 crowns per share, equivalent to a pre-money
valuation of 8.0 billion crowns, to fund the planned projects,
its parent Aker Horizons AKH-ME.OL said.
Key investors will be allocated a minimum of 1.4 billion
crowns worth of shares, with 500 million crowns to Aker Horizons
and 900 million to a group of investors, including AP4, DNCA
Invest, Folketrygdfondet and Ophir Asset Management, it added.
Following the private placement, ACH is expected to start
trading on the Euronext Growth exchange in Oslo at around March
10, and will seek to be listed on Oslo's main exchange within a
year, Aker Horizons said.
Carnegie AS, DNB Markets, Pareto Securities, Arctic
Securities and Sparebank 1 Market were all involved in the
transaction, Aker Horizons said.
($1 = 8.4986 Norwegian crowns)
(Reporting by Nerijus Adomaitis, editing by Terje Solsvik)
((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters
Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))