AUS
NZ
UK
CA
USA
IND
Highlights
- Atome Energy is all set to float on London Stock Exchange’s AIM by December end.
- The alternative energy company is a subsidiary of the Latin-America focused oil and gas firm, President Energy.
- According to President Energy, the pre-money valuation of Atome would be £20 million.
Atome Energy PLC, a renewable energy company, is all set to make a debut on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE) by the end of December 2021. The company before being demerged out of President Energy, which has 85% stake in it, had launched an offer for a PrimaryBid that closed at 6pm on 13 December 2021.
Atome Energy’s IPO plans
Atome Energy, which is a Leeds-based company engaged in the production of green hydrogen and ammonia, plans a listing on LSE’s AIM on 30 December 2021. The brokers for Atome’s IPO are finnCap & SP Angel.
A majority of (85 per cent) Atome is owned by President Energy, while the rest 15% is owned by Alpha Oil, which is the company of President’s boss Peter Levine and Atome’s non-executive chair.
RELATED READ: LBG Media IPO: What to expect from this biggest media listing on LSE?
© 2021 Kalkine Media®
The aim of President for this initial public offering (IPO) is to distribute the company’s shares to its own shareholders while retaining 23-25% of the total stakes. The PrimaryBid offer launched by the company can also be used by its shareholders to apply for shares.
According to President Energy, which is a Latin-America focused oil and gas firm, up to £9 million can potentially be raised by way of placing and through a PrimaryBid subscription at £0.8 per share. It added that the pre-money valuation of the company would be £20 million.
The proceeds from the placing would be channelised towards the further infrastructure development of the two operating subsidiaries of Atome, which are Iceland-based Green Fuel and Paraguay-based Atome Paraguay. Atome’s goal is to create a clean, green, and sustainable energy ecosystem for a better future.
RELATED READ: Porsche IPO: When to expect the listing of this Volkswagen brand?
Atome is Led by Olivier Musset, who was a part of the World Bank's International Finance Corporation as the Chief Investment Officer of Global Energy. The executive management of Atome, led by Musset, is all set to subscribe in the placing. Atome’s non-executive Chairman, Levine, would also provide the necessary support to the company by subscribing to the placing and will also provide a standby equity facility to the company at the placing price without any cost for either President or Atome
Bottomline
After getting listed, Atome would become the UK’s first public company that exclusively produces green hydrogen and ammonia. Amid the soaring prices of natural gas, producing green hydrogen is the cheapest form of hydrogen production as of now. With competitive low-cost production and many other market advantages, Atome is all set to potentially become a major player in the green energy sector.
