(Alliance News) - EDF Energy-backed electric vehicle charging firm Pod Point has priced its London IPO at the bottom of the 225 pence to 275p range following a board meeting to approve the move, Sky News reported Wednesday.
As a result of this, Pod Point's listing on London's Main Market will value the company at GBP350 million, and according to sources, Pod Point's advisers have covered the book at the bottom of the range, meaning that the float is likely to proceed.
Chief Executive Erik Fairbairn is expected to invest GBP4 million into the IPO, with GBP120 million raised in proceeds to accelerate the company's expansion.
https://news.sky.com/story/pod-point-to-price-ipo-at-bottom-of-range-amid-london-float-jitters-12458691
Pod Point had first confirmed its intent to list in London in mid-October.
"I am extremely pleased to confirm Pod Point's intention to float and I am delighted that we have reached this stage in the company's growth. Now is the right time for us to list - as a market leader, we are well placed to capture the significant market opportunity ahead," Fairbairn said in October.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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