Norwegian technology company Teco 2030 has successfully completed the book-building for its initial public offering as it raises cash to develop hydrogen fuel cells for ships.
The Teco Group spin-off said it will list its shares on the Oslo Stock Exchange's Merkur Market on 12 October.
The company sold new stock at NOK 40 each, corresponding to a pre-money equity value of NOK 400m ($43m), while banking proceeds of NOK 80m.
