- ABB remains fully committed to listing business on Swiss stock exchange
- Planned listing in coming weeks postponed due to challenging market conditions
ABB gave an update today on the planned initial public offering of its E-mobility business. The listing of the business remains an important part of ABB’s strategy. However, recent market conditions have made it challenging to proceed with a planned share offering in the second quarter of 2022.
Consequently, ABB is monitoring market conditions and is fully committed to proceed with a listing of the business on the SIX Swiss Exchange as and when market conditions are constructive.
ABB E-mobility will continue to execute its growth story, driven organically and through M&A. In addition, the Board of Directors of the business under Chairman Michael Halbherr will help govern the fast-moving entity. A new dedicated identity under the ABB brand is also being prepared for the business.
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com