At the same time, Aker Solutions will be listed on the Euronext Growth exchange in Oslo.
The company plans to issue NOR 8 billion, or USD$ 940 million, in shares on March 10.
Aker Solutions aims to develop its hydrogen branch
350 million USD$ private placement
Aker SOlutions, through its hydrogen arm Aker Clean Hydrogen (ACH), is expected to raise NOR 3 billion, or USD 353 million, in an initial private placement.
According to the group, Carnegie AS, DNB Markets, Pareto Securities, Arctic Securities and Sparebank 1 Market are involved in the transaction.
Develop 5 GW of green hydrogen by 2030
Aker Solution and its hydrogen branch ACH aim to achieve a net installed capacity of 5 GW of emission-free hydrogen production by 2030.
The company already has 1.3 GW net under development.
One of ACH’s major projects is the 450 MW Yara power plant in Norway.
Aker Solutions listed on Euronext Growth in Oslo
8 billion NOR in shares by March 10
On March 10, following the private placement, ACH shares are expected to begin trading on Oslo’s Euronext Growth exchange.
The company then hopes to be listed on Oslo’s main stock exchange within a year.
The company plans to issue 187.5 million shares at a fixed price of 16 NOR per share.
This is equivalent to a pre-monetary valuation of NOR 8 billion to finance the group’s hydrogen projects.
1.4 billion NOR shares redistributed to major investors
Major investors will be allocated shares worth a total of NOR 1.4 billion.
NOR 500 million to Aker Horizons and NOR 900 million to a group of investors including AP4, DNCA Invest, Folketrygdfondet and Ophir Asset Management.
