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€100 million raised
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Market capitalisation of €385.8 million
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10th listing of a cleantech on Euronext Paris in 2021
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170th listing on Euronext in 2021
Euronext today congratulates Forsee Power, a specialist in smart battery systems for electric mobility, on its listing on Compartment B of Euronext’s regulated market in Paris (ticker code: FORSE).
Forsee Power designs and manufactures smart lithium-ion battery systems for heavy and light electric vehicles and for industrial vehicles and devices. Present in Europe, Asia and North America, Forsee Power is a key, innovative and sustainable player committed to fight pollution from mobility and mitigate climate change, through zero-emission electromobility. Through its Initial Public Offering (IPO), Forsee Power aims to strengthen its market position by expanding to complementary markets through the development of new smart products, and also by pursuing its geographical expansion, in particular in the United States. Forsee Power also aims to increase its energy capacities in order to reach a production capacity of 10 GWh of clean energy by 2027.
Forsee Power was listed through the admission to trading on 3 November 2021 of the 53,210,003 shares making up its equity. 13,793,103 new shares were issued under a Global Offering[1], after full exercise of the extension clause and partial exercise of the over-allotment option.
The admission and issue price of Forsee Power shares was set at €7.25 per share. Market capitalisation was €385.8 million on the day of listing. The offering raised €100 million altogether.
The Offering was an important success with international institutional and individual investors. The Global Offering was oversubscribed 1.45 times.
Christophe Gurtner, Chairman and CEO of Forsee Power, said: “For 10 years, Forsee Power has been developing some of the most efficient smart battery systems in the electric mobility sector. Our goal is simple: to mitigate climate change by promoting the development of sustainable, emission-free mobility through the growth of electric vehicles equipped with Forsee Power batteries. The IPO will enable Forsee Power to strengthen its technological leadership, based on a comprehensive product array and a wide range of services, to accelerate its international deployment and to seize growth opportunities in new market segments.”
