London Stock Exchange today welcomes Intelligent Energy Holdings plc to the Main Market
London Stock Exchange today welcomes Intelligent Energy Holdings plc to the Main Market for listed securities. To mark this historic event Dr. Henri Winand, Chief Executive Officer, Intelligent Energy, opened trading at the London Stock Exchange in London this morning.
Intelligent Energy is an energy technology group which has developed advanced, power dense hydrogen fuel cell technologies, providing efficient and clean power generation. The Group’s intellectual property and expertise is based around its proprietary fuel cell technologies which are the result of over 25 years of research and development. The Group is commercialising its technology in its three business divisions – Automotive "(Motive"), Consumer Electronics ("CE") and Distributed Power & Generation ("DP&G"). The Group believes that these sectors offer mass market exposure to significant structural trends that in turn are poised to generate considerable commercial opportunities.
The Group issued 16,474,251 new and existing Ordinary Shares at a price of 340p per share, raising gross proceeds of approximately £55 million. At the issue price, Intelligent Energy has a total market capitalisation of approximately £639 million.
The Company intends to apply the net proceeds to provide funding for the commercial expansion of both the CE and the DP&G divisions, the continuation of core research and development activities, and the Company’s general working capital and corporate requirements.
Dr. Henri Winand, Chief Executive Officer of Intelligent Energy Holdings plc, commented:
"The listing is a significant strategic step for Intelligent Energy and will provide us with the funds to exploit fully the exciting commercial opportunities available to the Company in our three divisions of Motive, Consumer Electronics and Distributed Power & Generation, which are the current focus of the business. All three are subject to significant structural trends and they have the potential to generate sizeable product and service opportunities for Intelligent Energy."
Advisors: Barclays Bank, Canaccord Genuity, Parva Capital, NM Rothschild & Sons