ABB provides an update on the planned IPO of the electric vehicle business

Create Date: 2024-8-30 12:03:23|Source: ABB

ABB continues to work on its listing on the Switzerland Stock Exchange

Due to the challenging market environment, a postponement of the launch is planned in the coming weeks

ABB today provided an update on its planned initial public offering for its electric vehicle business. The listing of the business remains an important part of ABB's strategy. However, recent market conditions have made it challenging to conduct a planned equity offering in the second quarter of 2022.

ABB is therefore monitoring market conditions and is fully committed to continuing its listing on the Switzerland Sixth Stock Exchange when market conditions are good.

ABB E-mobility will continue to execute on its growth story, driven organically and through M&A. In addition, the Corporate Board of Directors, under Chairman Michael Halbherr, will help manage the fast-growing entity. A new dedicated logo under the ABB brand is also being prepared for the business.

ABB provides an update on the planned IPO of the electric vehicle business

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