EV charging solutions provider ABB e-mobility has announced initial public offering (IPO) private placement of about A$315.86 million (200 million Swiss francs) for newly issued shares, led by new minority investors.
The transaction will close during the fourth quarter of 2022 and ABB e-mobility will use the proceeds to continue its growth strategy, driven by both organic and merger and acquisition (M&A) investments in hardware and software.
The private placement includes participation from the long-term equity strategy fund of Interogo Holding, a foundation-owned international investment group based in Switzerland.
Moyreal Holding AG a Swiss single-family office with a long-standing history in the automotive industry and advised by Helvetic Trust AG, and ABB e-mobility chairman Michael Halbherr, are also participating in the private placement.
Interogo Holding and Moyreal believe that ABB e-mobility will play an important role in the transformation towards a more sustainable society.
ABB remains a committed partner to ABB e-mobility with a shareholding of about 92%, providing continued access to funding and supporting its future growth journey.
“We remain committed to our strategy to separately list our e-mobility business subject to constructive market conditions,” says ABB chief executive Björn Rosengren.
“Meanwhile, having Interogo Holding, Moyreal and Michael Halbherr as new co-shareholders in ABB e-mobility is a recognition of the company’s leading customer offering and market position,” he says. “The private placement underpins our joint commitment to ensure ABB e-mobility’s fast growth in order to remain best positioned to lead the sector in EV charging solutions.”
Richard Silén of IH Long-term Equity Advisors AB, the long-term equity arm of Interogo Holding AG, says ABB e-mobility is well-positioned to support the transformation towards a more sustainable future.
Silen has also been named along with three independent board members for ABB e-mobility’s board of directors (Håkan Samuelsson, Annette Köhler and Peter Molengraaf) and three ABB representatives (Morten Wierod, Carolina Granat, and Andreas Wenzel), following the appointment of Halbherr.
The board of directors, covering expertise across the fields of automotive, energy, finance and digitalization, has been established to govern the division in the spirit of an agile and fast-moving independent company.
ABB e-mobility has significantly scaled up its business since the beginning of 2022, also through a number of acquisitions and investments – including In-Charge, Chargelab and Numocity – as well as opening a production facility in Italy and expanding its US footprint.
