Siemens-backed energy storage firm Fluence jumps in market debut

Fluence

28/10/2021 18:14

** Renewable energy storage company Fluence's  FLNC.O 
shares open nearly 20% above their offer price in Nasdaq debut 
    ** FLNC opens at $33.50, compared with the IPO price of $28
per share  urn:newsml:reuters.com:*:nFWN2RO2DD
    ** Co valued at nearly $5.6 bln at debut price
    ** FLNC is a joint venture between German engineering and
technology company Siemens AG  SIEGn.DE  and U.S.-based
electricity distributor AES Corp  AES.N 
    ** On Wednesday, FLNC raised $868 mln in its IPO, selling
shares above the marketed range of $21 to $24  
    ** J.P. Morgan, Morgan Stanley, Barclays and BofA Securities
were among the underwriters for the initial public offering

 (Reporting by Manya Saini and Niket Nishant in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))