Eni and Livestream plan to float their New Energy One Acquisition on the London Stock Exchange to raise up to 175 million pounds ($230 million) to invest in energy transition, the Italian oil company said, according to reporting by Reuters.
As part of the IPO, Eni has committed to underwrite 17.5 million pounds of the capital increase, with an option to go up to 25 million pounds, the company added.
LiveStream and Eni are financial backers of NEOA, which will be the UK’s largest SPAC focused on energy transition.
The vehicle will look for a business target to acquire in Europe or the UK in areas that include hydrogen, green ammonia, carbon capture and energy storage. Read more.
