Hydrogen-Refueling-Solutions valued at €383m in IPO

Hydrogen-Refueling-Solutions (HRS), the French company specialising in hydrogen refuelling stations, has listed on Euronext Growth Paris with a ticker code of ALHRS.

The listing is the largest IPO on Euronext Growth Paris since the creation of that market segment.

“HRS was listed on 9 February through the admission to trading of the 15,160,851 shares making up its equity, of which 3,343,695 new shares were issued under a global offering, excluding the over-allotment option,” said Euronext.

“The admission and issue price of HRS shares was set at €25.30 per share.

“Market capitalisation was €383.57 million on the day of listing.

“The offering raised €84.6 million altogether.

“The offering was a resounding success with international institutional and individual investors.

“The public offering was oversubscribed 4.85 times and the open price offering was oversubscribed 12.34 times.”

Hassen Rachedi, CEO and founder of HRS, said: “We are very pleased and proud of the tremendous enthusiasm surrounding our IPO and we would like to thank French and international institutional investors, as well as individual shareholders, for their confidence.

“Our IPO will enable us to accelerate our development and play a major role in the democratisation of hydrogen in transport.

“This raising of capital will support our ambition to play a key role in the European hydrogen industry.”

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