German batteries producer Voltabox lists on the stock exchange
The German batteries producer Voltabox will list on the stock exchange with Initial public offering. The Board of Directors of its parent company Paragon approved IPO of Voltabox, hoping to boost the growth of the company that develops and manufactures lithium-ion batteries.
The start of trading is planned for the premium segment of the stock exchange in Frankfurt for the autumn of this year. The raised funds will be focused on product development, expansion of production capacities and the payment of the Paragon shareholder loan.
Voltabox also needs to become more flexible so it can continue to grow through acquisitions.
Under the IPO, Voltabox vill offer 5 million shares plus options for redistribution of 0.825 million shares through a capital increase. In addition, there will be another 0.5 million shares of Paragon’s portfolio.
The parent company wants to remain a majority shareholder in the Voltabox in the long run. Free-float will be 40% after the IPO.