French McPhy Energy launches IPO

Mar 3, 2014 - French solid state hydrogen storage technology developer McPhy Energy said today that its initial public offering (IPO) in view of the listing on the C segment of Euronext Paris will run from today to March 18.
The price range is between EUR 6.75 and EUR 8.25 per share.
The share price will be fixed on March 19 and trading will start on March 25.
McPhy Energy targets to raise EUR 22 million (USD 30.3m), which may increase to EUR 29 million if the overallotment option is exercised.
The listing will enable McPhy Energy to strengthen industrial infrastructure and speed up commercial expansion, board chairman Pascal Mauberger said.
The company generated sales of EUR 3 million in 2013 and struggled with a net loss of EUR 8.5 million, while recurring operating loss came in at EUR 7.9 million.

(EUR 1.0 = USD 1.378)

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