Lhyfe green hydrogen IPO raises €110mn

Portuguese energy group EDPR among anchor investors as French company lists on Euronext stock exchange in first European hydrogen IPO since outbreak of war in Ukraine

French green hydrogen producer Lhyfe has raised at least €110mn ($118mn) via an initial public offering (IPO) and listing on the Euronext stock exchange, with Portuguese energy group EDPR among the anchor investors. Lhyfe’s listing, which also drew investors from France and Norway, was the first by a company in Europe since the outbreak of the war in Ukraine and marks the reopening of the European IPO market, says French investment bank Natixis, which was the joint coordinator and bookrunner on the transaction. “This remarkable success is the result of intensive preparation, a key condition to reopen the IPO market in the current environment, marked by the crisis in Ukraine and higher risk a