Econostrum | Economic News in the Mediterranean
     

French green hydrogen producer Lhyfe to list on stock exchange


Written by Eric Apim on Wednesday, May 25th 2022 à 12:00 | Read 1991 times



Matthieu Guesné, CEO of Lhyfe, rings the bell at the Paris Stock Exchange with his team (photo: Euronext)
Matthieu Guesné, CEO of Lhyfe, rings the bell at the Paris Stock Exchange with his team (photo: Euronext)
FRANCE. The 46,947,730 shares (including 12.5 million new shares issued) of Lhyfe were listed for the first time on Monday 23 May 2022. Based in Nantes, the French green hydrogen producer had launched its IPO on the regulated market of Euronext Paris (compartment B) on 9 May 2022 and hoped to raise around €110m through a capital increase with an estimated price range of €8.75 to €11.75 per share.

The Global Offering was oversubscribed 1.32 times by institutional, international and individual investors and the Open Price Offering 1.31 times. The offer price was finally set at €8.75, bringing the company's market capitalisation to €410m. The offer price represents €110 million and may be increased to €124 million if the over-allotment option is fully exercised.

In a press release published on Monday 23 May 2022, Euronext Paris states that "Lhyfe intends to accelerate the development of its production sites across Europe, to strengthen its business development and engineering teams in the Group's target geographies and to continue its investments, in particular those related to the development of green hydrogen production sites at sea. By 2030, Lhyfe aims to be a European leader in green hydrogen production, with a total installed capacity of over 3 GW, and to transform the current energy model into a more virtuous one."

This is the thirteenth listing of a company on Euronext Paris in 2022, and the third listing of a cleantech company. At midday, the share price was €8.80 (+0.5% compared to the offer price).

93 projects in 11 countries

"It is with great enthusiasm and great ambitions that we celebrate today our IPO on Euronext, a new historical step in Lhyfe's development. The demand for green hydrogen will explode over the next few years and Lhyfe's ambition is to become a leader in the production of green hydrogen in Europe", comments Matthieu Guesné. "Thus, we are now launching a new phase of Lhyfe's development to promote the production of green and accessible hydrogen throughout Europe. Let's act quickly and together for a bright future... Everyone can contribute," continues the CEO of Lhyfe.

Created in 2017, the Nantes-based company already has a presence in ten countries*. It claims ninety-three projects in eleven countries with production dates between 2022 and 2028. They have a total installed production capacity of more than 4.8 gigawatts (GW), or a green hydrogen production of more than 1,615 tonnes per day. Lhyfe's objective is to develop 55 MW by 2024 and to achieve a turnover of €200 million with a break-even Ebitda in 2026 based on a total installed capacity of 200 MW.

* France, Portugal, Spain, Belgium, the Netherlands, Germany, Denmark, Sweden, Finland and Norway.



In the same section
< >

Thursday, June 23rd 2022 - 16:30 New boost to VAT in Spain

Thursday, June 23rd 2022 - 14:20 The Balkans are knocking on the EU's door


   Partners









About Econostrum.info Econostrum.info is an independent media that deals with the daily economic news of the countries bordering the Mediterranean. Economic cooperation, business news by sector (Industry, Services, Transport, Environment, Society/Institutions), thematic files, airport news, airlines and shipping companies (new destinations)... are treated and analysed by a team of journalists present in the Mediterranean basin. Subscribe to Econostrum.info To be the first to know, with unlimited access to all articles. To receive the weekly newsletters and special newsletters sent as soon as our files are published. Automatically renewable subscription, but the reader keeps control of it or yearly subscription. For individuals or professionals...