Second round of ABB E-mobility's pre-IPO placement
On February 1, 2023, ABB E-mobility, a global leader in electric vehicle (EV) charging solutions, announced that it has signed an agreement with four minority investors to raise an additional CHF325 million in funds, in exchange for a total shareholding of approximately 12 percent in the company. This transaction represents the second and final part of ABB E-mobility’s pre-IPO private placement of newly issued shares and is expected to close in the beginning of February 2023.
ABB E-mobility will use the proceeds to continue the execution of its growth strategy, driven by both organic and M&A investments in hardware and software. Following the second round, ABB remains a committed partner to ABB E-mobility with a shareholding of approximately 80 percent. Through its pre-IPO placement, ABB E-mobility has raised a total of approximately CHF525 million in funds for the E-mobility business, with both investment rounds based on the same company valuation and contractual terms.
Lenz & Staehelin advises ABB and ABB E-mobility in this transaction.
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Hans-Jakob DiemCorporate/M&ACapital MarketsCapital MarketsCapital Markets and Corporate/M&ACapital Markets and Corporate/M&A
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