Linde, the multinational industrial gas company, is making a strategic equity investment in ITM Power, the UK hydrogen machine manufacturer, as part of a fundraising plan worth up to £58.2m.
Investec is bookrunner on the transaction.
The company is making is making a £38m investment in ITM through Linde Holdings No 2, buying new shares at 40p a share. ITM is selling a further £14m stake through a firm placing to existing shareholders and new institutional investors.
The final stage