The subscription period for the IPO of Compleo Charging Solutions starts tomorrow, Friday. The subscription period ends on October 19th. The price range is between EUR 44.00 and EUR 59.00. The shares are to be listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange on October 21.
Up to 900,000 shares from a capital increase will be offered for the IPO. Existing shareholders surrender up to 540,000 shares. The offer is supplemented by a possible over-allotment option for up to 216,000 shares. This means that up to 1.656 million shares of Compleo can come onto the market. The free float can be up to 48 percent. Depending on the issue price, the market capitalization is between 150.6 million euros and 201.98 million euros.
In the best case scenario, the capital increase will result in 53.1 million euros in Compleo’s cash register. The company intends to use this to finance further growth. Expansion to new locations is planned. The company develops and builds charging stations for e-cars. A strong increase in demand is expected here in the coming years.
Checrallah Kachouh, Co-CEO and CTO of Compleo: “In European society, awareness of environmental, health and climate protection through lower-emission means of transport is growing. This is also reflected in the increasing popularity of electric vehicles, which is likely to continue to grow in the coming years. As a result, the number of public charging points in the EU is expected to increase sharply from 175,000 in 2019 to 1.2 million by 2025 and 2.2 million by 2030. “
Georg Griesemann, Co-CEO and CFO, adds: “With Compleo we want to take advantage of the opportunities in this attractive growth market. We are already on a clear growth path and this year after only six months with sales of 14.3 million EUR we have almost reached the sales level of the full year 2019, when we posted 15.2 million EUR in sales within 12 months . ”
Compleo’s customers include Deutsche Post and numerous municipal utilities.
The IPO is supported by Commerzbank and Oddo BHF.