Energy storage provider INTILION is planning an initial public offering (IPO) on the Frankfurt Stock Exchange (Prime Standard) in the third quarter of this year.
The IPO is expected to include an offering in Germany and private placements outside Germany of primarily new shares from a capital increase of the company, as well as existing shares held by the companyâ€™s sole shareholder HOPPECKE Rail Systems (a subsidiary of Accumulatorenwerke Hoppecke Carl Zoellner & Sohn).
The company intends to use the net proceeds from the offering of the new shares to promote future growth and make investments in companies with the aim of â€œaccelerating the companyâ€™s software knowledge, developing its virtual power plant business model to enable the bundling of storage capacities for energy trading purposes and expanding the companyâ€™s research and development team”, a statement said. In addition the proceeds will be used to fund the geographic expansion of its sales, engineering and fulfilment capabilities.
HOPPECKE Rail Systems will continue to hold a majority interest in INTILION following the completion of the proposed IPO.