MILAN (Reuters) – Italy’s Industrie De Nora, which makes components to produce green hydrogen, said on Monday it started the procedure for an initial public offering in Milan, which could value the company up to 5 billion euros ($5.7 billion) according to a source.
The offering will consist of new and existing shares and the proceeds will be used for growth, especially in the hydrogen segment, a source familiar with the matter said.
The company is controlled by the De Nora family with a 64% stake, with the remaining shares owned by Italy’s Snam. Both investors will remain in the company after the IPO, the source said. ($1 = 0.8801 euros)
(Reporting by Elisa Anzolin; Editing by Keith Weir)
