ABB E-mobility Raises Around CHF 200 Mln In Pre-IPO Private Placement

(RTTNews) - Swiss engineering company ABB Ltd.(ANN.L, ABB) announced Monday that its unit ABB E-mobility has signed a pre-IPO private placement of around 200 million Swiss francs for newly issued shares, led by new minority investors.

The transaction will close during the fourth quarter 2022.

ABB E-mobility, a provider of electric vehicle or EV charging solutions, will use the proceeds to continue the execution of its growth strategy, driven by both organic and M&A investments in hardware and software.

The company noted that the private placement includes participation from the long-term equity strategy fund of Interogo Holding, as well as moyreal holding ag, a Swiss single-family office, and ABB E-mobility Chairman, Michael Halbherr.

ABB holds a shareholding of approximately 92 percent in ABB E-mobility.

The company further announced that three additional independent Board members for ABB E-mobility have been named: Håkan Samuelsson, Annette Köhler and Peter Molengraaf.

In addition, Richard Silén, Managing Director of IH Long-Term Equity Advisors AB, has been appointed to the Board.