(Alliance News) - Industrie De Nora Spa announced Friday that thyssenkrupp AG and De Nora, together with thyssenkrupp nucera AG & Co. KGaA, the world's leading supplier of electrolysis technologies for use in green hydrogen plants, have identified a valuation range for thyssenkrupp nucera common shares of a minimum of EUR19.00 and a maximum of EUR21.50 per share.

The offer will be for 30.3 million shares and will consist of 26.3 million newly issued ordinary shares and just under 4.0 million ordinary shares offered by existing shareholders De Nora and thyssenkrupp AG subject to potential over-allotment.

The indicative valuation range corresponds to a post-capital increase capitalization of between EUR2.4 billion and EUR2.7 billion. Based on the indicative valuation range, thyssenkrupp nucera's gross proceeds from the capital increase are estimated to be approximately EUR500-566 million and will be used to support the growth of thyssenkrupp nucera's alkaline water electrolysis technology business.

The offering period will begin on June 26 and end on July 5. The final offering price and the number of shares subject to the offering will be determined at the end of the bookbuilding process, tentatively scheduled for July 5. The start date for trading of thyssenkrupp nucera shares on the Frankfurt Stock Exchange's regulated market is scheduled for July 7.

BNP has committed to buy EUR85 million worth of shares while Energy Solutions Co will take over 6 percent of thyssenkrupp nucera's resulting share capital at the end of the offer period.

De Nora is "firmly committed to continue the long-term partnership with thyssenkrupp nucera and thyssenkrupp AG," as the Italian company explains.

Industrie De Nora's stock is down 3.1 percent at EUR18.94 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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