Manz AG raises US$37 million in cash for battery business

Facebook
Twitter
LinkedIn
Reddit
Email

Manufacturing equipment firm Manz AG has raised around €26.9 million (US$36.6 million) in through an increase in cash capital, to be used for the ‘internal and external growth of the company’. The company announced this morning that the drive, began yesterday, 27 November, was now completed.

Under an accelerated bookbuilding, qualified investors were offered a total of 448,005 new shares at a set placement price of €60 (US$81.60) per share. This results in gross proceeds of increased cash capital held by the company of €26.9 million (US$36.6 million).

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Manz AG has confirmed that some of the newly added cash proceeds will be invested in the company’s battery business including potential acquisitions. In addition to its solar and display business divisions, Manz AG is currently involved in the manufacturing processes of lithium-ion batteries, as used in electric vehicles.

Capital stock as listed in the company’s balance books increased by the number of shares offered, at a nominal value of €1 each, from €4,480,054 to €4,928,059.

Private bank Bankhaus Lampe acted as sole bookrunner for the offering. The new shares will carry dividend rights from 1 January 2013 and will be included in the quotation of shares in the company’s listing on the Frankfurt Stock Exchange on 2 December this year. Earlier this month, Manz AG revealed that it was expecting to hit record revenue levels of between €260 million (US$348 million) and €270 million (US$362 million) and a positive EBIT, mainly due to strong revenue growth in its display division.

Read Next

December 9, 2024
Located in the northern department of Atlantic, Enel says the Guayepo I and II project is the country’s largest operational solar site.
December 9, 2024
Sunstone is set to begin its engineering and procurement phase in early 2025 and start phased construction in 2026.
Premium
December 9, 2024
After a challenging year for polysilicon producers, Carrie Xiao assesses whether market conditions will improve and prices rebound.
December 9, 2024
US renewable energy developer, Longroad Energy, announced financial close of 111MWdc solar and 85MWac/340MWh storage project Sun Pond in Maricopa County, Arizona, 4 December.
December 9, 2024
Swiss solar manufacturer Meyer Burger has secured US$39.48 million to support its restructuring operations and “stabilise” its business.
December 9, 2024
Chinese solar module manufacturer JinkoSolar has filed a patent infringement action in the US District Court for the Northern District of California (San Francisco) against VSUN Solar USA, Toyo and its affiliates in the US and abroad.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
December 12, 2024
9am GMT / 10am CET
Solar Media Events, Upcoming Webinars
December 18, 2024
9am GMT / 10am CET
Solar Media Events
February 4, 2025
London, UK
Solar Media Events
February 17, 2025
London, UK