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Thyssenkrupp (OTCPK:TYEKF) said on Friday it will not currently pursue an initial public offering of its Nucera hydrogen unit due to the current weak stock market environment.
The company said an IPO remains its preferred solution to grow the hydrogen unit, which plans and engineers electrolyzers to produce hydrogen.
Thyssenkrupp (OTCPK:TYEKF) said earlier this year it was targeting proceeds of up to 600M by selling new shares in a possible IPO of Nucera this year.
Thyssenkrupp (OTCPK:TYEKF) is well-positioned for a hydrogen opportunity given its capabilities, AB Capital wrote in a 2021 analysis published on Seeking Alpha.
Thyssenkrupp to delay pursuit of hydrogen unit IPO (OTCMKTS:TYEKF)
