[ad_1]
The hydrogen company intends to raise fresh money for a project opportunity.
Jon André Løkke, Head of Nel
Fredrik Hagen / NTB
Hydrogen company Nel announced Wednesday afternoon that it will raise fresh money through an equity (issue).
The offering means that the company will issue up to 49.5 million new shares. In total, you can give the company up to NOK 1.28 billion, based on the closing price on the Stock Exchange on Tuesday.
The company raises the money to have the financial flexibility necessary to pursue opportunities in the market. Nel writes that the greater number of opportunities will lead to greater demand for the company and its organization.
“The money from the issue will allow the company the opportunity to pursue bigger and more projects, as well as strategic opportunities,” Nel writes in the report.
In addition, the company will further strengthen the organization and invest in research and development.
This is the second time in less than a year that the company has raised money. In June last year, Nel raised NOK 1.3 billion. At that time, the money would also be used to work on larger projects.
The subscription period began at the end of the trading day on Wednesday and is expected to end at eight o’clock on Thursday morning.
Nel has contracted with Arctic Securities, Carnegie and Sparebank 1 Markets to carry out the capital raising.
