FRIEDRICH VORWERK Group SE plans an initial public offering (IPO) on the Frankfurt stock exchange in the first quarter to accelerate growth in the hydrogen market, its biggest shareholder said on March 8, 2021. The company, a subsidiary of industrial firm MBB, aims to raise about EUR 90 million ($107 million) from newly issued shares as well as shares from existing owners. The listing could value Friedrich Vorwerk at EUR 800 million to EUR 1 billion, three sources close to the deal said. The company declined to comment on the valuation. Berenberg and Jefferies are organising the deal with the help of Hauck & Aufhaeuser.