ABB’s Electric-Vehicle Charging Business Valued at $2.6 Billion
- New shareholders get 8% stake through private placement
- ABB E-mobility still pursuing IPO after delay on market rout
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ABB Ltd.’s electric-vehicle charging business has raised funds from minority investors that value the company at about 2.5 billion Swiss francs ($2.6 billion).
The division, ABB E-mobility, sold new shares for about 200 million francs to equity fund Interogo Holding AG, family office moyreal holding AG and ABB E-mobility Chairman Michael Halbherr, according to a statement Monday. The 8% stake sale will provide funding to grow the charging business, as the Swiss conglomerate still pursues plans for an eventual listing.