Fastned IPO on July 9th
Amsterdam July 8 2014. Fastned, the company that is rolling out a nationwide network of fast-charging stations for electric cars in the Netherlands, has announced the date of her IPO: July 9th 2014. Yesterday, the prospectus was approved by the Dutch Financial Markets Authority (AFM) and from today, it is available on the websites of Fastned and NPEX - the SME stock exchange where Fastned will get listed. In the first tranche Fastned will issue circa 400,000 certificates of shares at 10 Euro apiece. During the pre-subscription in May this first tranche was fully reserved within just two weeks. Starting today investors can pre-subscripe to the second tranche via de Fastned website.
Co-founder Michiel Langezaal: “The car market is changing rapidly and investors see opportunities for newcomers such as Tesla Motors. Fastned aims at the same transition towards electric cars and offers investors the oportunity to become co-owner of the service stations of the future.” Co-founder Bart Lubbers: “In the Netherlands it is very rare for a start-up like Fastned to raise capital by going public. We have taken this step because many people believe electric cars are the future and have asked us from the start if they can invest in Fastned.”
With its IPO Fastned plans to raise 40 million Euro in a number of tranches in order to finance the network of 201 fast charging stations along Dutch highways. To roll out the network within three years, the pace of construction will be increased to 1 or 2 stations per week. As of today, 9 stations are operational and 10 stations are under construction.
Only two weeks ago Fastned announced that it had secured a 2.5 million Euro loan from Flowfund to accelerate the roll-out of stations even before going public. As a result of this acceleration Fastned can provide basic national coverage at the end of the year.
The car market is changing rapidly and investors see opportunities for newcomers such as Tesla Motors. Fastned aims at the same transition towards electric cars and offers investors the oportunity to become co-owner of the service stations of the future. (Michiel Langezaal, co-founder Fastned )In the Netherlands it is very rare for a start-up like Fastned to raise capital by going public. We have taken this step because many people believe electric cars are the future and have asked us from the start if they can invest in Fastned. (Bart Lubbers, co-founder Fastned )About Fastned:
Fastned is a charging company that is building a European network of fast charging stations. The stations are located at high traffic locations along highways and in cities, where electric cars can add up to 200 km range in 15 minutes. Fastned's mission is to give freedom to electric drivers and accelerate the transition to sustainable mobility. As of today, Fastned has 114 stations operational in the Netherlands, Germany and the United Kingdom, and is working on expanding its fast charging network to the rest of Europe. Fastned is currently simultaneously building fast charging stations in the Netherlands, Germany and the United Kingdom, and preparing for building its first stations in other countries, with a focus on Belgium, Switzerland and France. Fastned is listed on Euronext Amsterdam (ticker AMS:FAST). More information: fastnedcharging.com.