Sunday, January 23, 2022

Dutch EV Company Ebusco planning IPO on Amsterdam stock exchange

The Dutch electric bus and charging infrastructure manufacturer Ebusco is planning an IPO on Euronext Amsterdam. The IPO is expected to take place in the coming weeks and Ebusco is aiming for gross proceeds of around 300 million euros (about $350m USD)

Ebusco says it will use the capital to finance investments in its international expansion and growth strategy until 2023. Ebusco wants to manage the IPO on its own and is not merging with an already listed company, also known as SPAC.

“We started Ebusco nearly a decade ago on the strong belief that electric transport is the future,” says CEO Peter Bijvelds. “With a sole focus on electric buses and charging systems, we have developed the Ebusco 3.0, a revolutionary and unique bus that is a genuine game changer in our industry worldwide. This positions us well to take advantage of growing market and regulatory momentum.”

The electric bus manufacturer is responding to rising demand for its vehicles. According to the Company, sales grew by 116 per cent between 2018 and 2020 to around €100 million at last count. The Ebitda margin in 2020 was at 27 per cent.

Ebusco 3.0 Electric Bus

The company was founded in 2012 year and has so far delivered 346 zero-emission buses in seven European countries. As of 30 September 2021, Ebusco had 232 orders on the books, up from 140 vehicles ordered in June.

The conversion of public transport fleets to zero-emission buses continues to gather pace: In September, according to Ebusco, 2,405 electric buses had already been put out to tender for procurement in Europe – up from 331 in June.

See also  Dutch Electric Bus maker Ebusco scores another order in Germany

The company says it has already attracted some anchor investors for its IPO. ING Corporate Investments Participaties B.V., currently the largest investor with around 25 per cent, has committed to subscribe to offer shares at the offer price of 32.5 million euros.

Teslin Capital Management B.V. and Alychlo N.V. also apparently want to invest. In addition, according to Ebusco, “a number of other institutional investors and family-owned companies based in the Benelux have expressed significant interest in investing”.

The expansion of production capacities is already underway: At the Ebusco plant in Deurne, the Netherlands, where the Ebusco 3.0 electric bus is built, a new production hall is scheduled to open on 28 October. According to Ebusco, the plant should reach a production capacity of 500 buses per year by 2022.

Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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