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€110 million raised
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Market capitalisation of €410 million
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3rd listing of a cleantech company on Euronext Paris in 2022
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13th listing on Euronext Paris in 2022
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30th listing on Euronext in 2022
Paris – 23 May 2022 – Euronext today congratulates Lhyfe, an independent producer of green hydrogen to reduce carbon emissions in the transportation and industry fields, on its listing on Compartment B of Euronext’s regulated market in Paris (ticker code: LHYFE).
Based in Nantes and specialising in the production of green and local hydrogen, Lhyfe is a leading French “pure-player” in 100% renewable hydrogen for the decarbonisation of mobility and industry. Lhyfe is already present in 10 European countries where the company designs, develops and operates its green hydrogen production sites (93 plants planned to date). By listing on Euronext, 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 pursue 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 more than 3 GW, and to transform the current energy model into a more sustainable one.
Lhyfe was listed through the admission to trading on 23 May 2022 of the 46,947,730 shares making up its equity, and of 12,571,429 new shares issued under a Global Offering[1], before exercise of the over-allotment option.
The admission and issue price Lhyfe shares was set at €8.75 per share. Market capitalisation was €410 million on the day of listing. The Initial Public Offering (IPO) raised €110 million altogether. Six bonds convertible into shares will be converted automatically on the settlement date of the offer for a total amount of €47.8 million and will give rise to the issue of 15,039,401 additional new shares.
The Offering was a success with international institutional and individual investors. The Global Placement was oversubscribed 1.32 times at the Offer price and the Open Price Public Offering was oversubscribed 1.31 times.
Matthieu Guesné, CEO of Lhyfe, said: “It is with great enthusiasm and ambition that we celebrate today our IPO on Euronext, a new historical step in the development of Lhyfe. The demand for green hydrogen will strongly increase over the next few years and Lhyfe aims to become a leader in green hydrogen production in Europe. Therefore, we are now launching a new phase of Lhyfe's development to promote the production of environmentally friendly and accessible hydrogen throughout Europe. Let's act quickly and together for a bright future... Everyone can contribute.”
Caption: Matthieu Guesné, CEO of Lhyfe, and his team rang the bell during a ceremony this morning in the presence of Camille Leca, Head of Listing France at Euronext, to celebrate the IPO of the company.
About Lhyfe Created in Nantes in 2017, Lhyfe produces and supplies renewable green hydrogen for mobility and industry. Its production plant and its commercial pipeline will allow access to renewable green hydrogen in industrial quantities and form part of a virtuous energy model benefitting the environment. It is a member of France Hydrogène and Hydrogen Europe. Lhyfe inaugurated its first green hydrogen industrial production site in September 2021. It currently has 93 projects in its pipeline across Europe, of which 20 in advanced development by 2026, to contribute to mobility and industry decarbonization. A research program started in 2019 should also lead to the start of a test phase in real conditions for the world’s first floating electrolyser linked to a floating wind farm planned for fall 2022. For more information go to Lhyfe.com
[1] The Global Offering was made up of a Public Offering that included an Open Price Public Offering and a Global Placement with institutional investors in France and other countries.