E-Bike supplier hGears rises in Frankfurt debut

hGears AG

21/05/2021 09:35

** Shares in hGears  HGEA.DE , a supplier of high-precision
gears and components for e-Bikes, rise 6% at open in Frankfurt
debut
    ** The company, which counts Bosch and Schaeffler  SHA_p.DE 
among its clients, priced its initial public offering at 26
euros per share, valuing it at 270 million euros ($330.32
million)  urn:newsml:reuters.com:*:nFWN2N50J1
    ** hGears expects to invest the majority of IPO proceeds in
increasing its production capacity for e-bike and electric and
hybrid vehicle parts, as well as expanding its research and
development activities
    ** As at 0830 GMT the shares were up 2% at 26.5 euros


($1 = 0.8174 euros)

 ((a.pruchnicka@tr.com))