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
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Fastned is building a European network of fast-charging stations where all electric cars can charge. The stations are located at high traffic locations along the highway and in cities, where electric cars can charge in 20 minutes. This will provide freedom for electric cars to drive across Europe. As of today, Fastned has 63 stations operational in The Netherlands and is working on expanding its fast charging network to the rest of Europe. Fastned is preparing the construction of fast charging stations in Germany, The United Kingdom and Belgium. Fastned is listed on the Nxchange stock exchange.
Fastned is rolling out it’s network of fast charging stations in response to the rapidly increasing numbers of EV’s in Europe. Car manufacturers such as Tesla, Audi, Volvo, Aston Martin, BMW, Nissan, Mitsubishi, Porsche, Volkswagen, Mercedes, Ford, General Motors en Renault and other car manufacturers are investing billions of Euro’s in the development of, and production capacity for EV’s. More and more EV’s are hitting our roads which drives the need for charging infrastructure. Fastned is responding to this development by building the service stations of the future. Co-founder and CEO Michiel Langezaal: “We are the Shell of the future, only our energy comes from the sun and the wind."