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On Wednesday, the hydrogen company got investors to bring fresh money to the company’s projects.
Jon André Løkke, Head of Nel
Fredrik Hagen / NTB
The case is updated with the results of the problem.
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, it could give the company up to NOK 1.28 billion, based on the closing price on the Stock Exchange on Tuesday.
On Wednesday evening, the company issued a new announcement stating that the company raised NOK 1.23 billion gross, before the costs of the issue were covered.
49.5 million new shares will be issued at a price of NOK 24.75, corresponding to a 4.4 percent discount from Wednesday’s closing price. According to the plan, the shares will be liquidated around March 1.
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 wrote in the original message.
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.
P.S! Following the issue, a total of 1,457,297,488 shares will be issued in Nel.
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