Abb ipo14 May 2021 16:01
ABB Ltd. will carve out its electric-vehicle charging business into a separate legal structure to prepare the unit for a potential listing and boost its ability to make acquisitions.
The Swiss engineering giant is the market leader in EV charging and growing “extremely fast,” ABB Chief Executive Officer Bjoern Rosengren said in an interview with Bloomberg Television. The business could fetch a valuation between between $1.5 billion and $2 billion, according to William Mackie, analyst at Kepler Chevreux.
“We need during the coming years to make many acquisitions within this area to keep the leading position we have today in the market,