Forsee Power lists on Euronext Paris

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  • €100 million raised
  • Market capitalisation of €385.8 million
  • 10th listing of a cleantech on Euronext Paris in 2021
  • 170th listing on Euronext in 2021

Paris – 03 November 2021 – Euronext today congratulates Forsee Power, a specialist in smart battery systems for electric mobility, on its listing on Compartment B of Euronext’s regulated market in Paris (ticker code: FORSE).

Forsee Power designs and manufactures smart lithium-ion battery systems for heavy and light electric vehicles and for industrial vehicles and devices. Present in Europe, Asia and North America, Forsee Power is a key, innovative and sustainable player committed to fight pollution from mobility and mitigate climate change, through zero-emission electromobility. Through its Initial Public Offering (IPO), Forsee Power aims to strengthen its market position by expanding to complementary markets through the development of new smart products, and also by pursuing its geographical expansion, in particular in the United States. Forsee Power also aims to increase its energy capacities in order to reach a production capacity of 10 GWh of clean energy by 2027.

Forsee Power was listed through the admission to trading on 3 November 2021 of the 53,210,003  shares making up its equity. 13,793,103  new shares were issued under a Global Offering[1], after full exercise of the extension clause and partial exercise of the over-allotment option.

The admission and issue price of Forsee Power shares was set at €7.25 per share. Market capitalisation was €385.8 million on the day of listing. The offering raised €100 million altogether.

The Offering was an important success with international institutional and individual investors. The Global Offering was oversubscribed 1.45 times.

Christophe Gurtner, Chairman and CEO of Forsee Power, said: “For 10 years, Forsee Power has been developing some of the most efficient smart battery systems in the electric mobility sector. Our goal is simple: to mitigate climate change by promoting the development of sustainable, emission-free mobility through the growth of electric vehicles equipped with Forsee Power batteries. The IPO will enable Forsee Power to strengthen its technological leadership, based on a comprehensive product array and a wide range of services, to accelerate its international deployment and to seize growth opportunities in new market segments.”

Forsee Power

Caption: Christophe Gurtner, Chairman and CEO of Forsee Power, and his team rang the bell during a ceremony this morning, in presence of Jérôme Hervé, Listing Director SME Ile-de-France and Nouvelle Aquitaine, to celebrate the IPO of the company.

About Forsee Power Forsee Power is an industrial group specialising in smart battery systems for sustainable electric transport (light vehicles, trucks, buses, trains, marine vessels). A major player in Europe, Asia, and North America, the Group designs, assembles and supplies energy management systems based on the most robust cells available on the market as well as provides installation, commissioning and on-site or remote maintenance. Forsee Power also offers financing solutions (battery rental) and second life solutions for transport batteries. The Group had a turnover of €62 million in 2020 and employs over 500 people. For more information: www.forseepower.com | @ForseePower

[1] The Global Offering was made up of a Public Offering that included an Open Price Public Offering and a Global Placement with institutional investors in France and other countries.

 

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