Thyssenkrupp finally launches IPO for Nucera hydrogen division.
Thyssenkrupp has launched the long-awaited IPO of its hydrogen division Nucera, targeting proceeds of up to €600m ($647m) via the sale of new shares. The IPO, which was delayed by weak market conditions after the Ukraine war, is expected to be completed before the summer break. Nucera builds electrolysers to produce green hydrogen, a field in which it competes with Nel, ITM Power, McPhy Energy and Plug Power. The move comes less than two weeks after Thyssenkrupp's new CEO Miguel Lopez took over from Martina Merz, underlining his commitment to steer the German industrial icon into calmer waters and raise its languishing share price.