ABB E-mobility, a provider of electric vehicle (EV) charging solutions, signed a pre-IPO private placement of approximately $ 208.5 million for newly issued shares, led by new minority investors. The transaction will close during 4Q 2022. ABB E-mobility will use the proceeds to continue the execution of its growth strategy, driven by both organic and M&A investments in hardware and software. The company remains a committed partner to ABB E-mobility with a shareholding of approximately 92%.
ABB CEO Björn Rosengren said in the press release, "We remain committed to our strategy to separately list our E-mobility business subject to constructive market conditions. 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. 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."
"We have followed the EV charging space for a long time and are impressed by what the ABB E-mobility team has achieved. ABB E-mobility is well-positioned to support the transformation towards a more sustainable future. We look forward to working with the team and co-shareholders," said Richard Silén, managing director of IH Long-term Equity Advisors AB, the long-term equity arm of Interogo Holding AG.