FLUENCE DECLARES INITIAL PUBLIC OFFERING PRICING

KUALA LUMPUR, Oct 28 -- Fluence, a leading global provider of energy storage products and services and digital applications for renewables and storage, has announced the pricing of its initial public offering of 31,000,000 shares of its Class A common stock at a price to the public of US$28.00 per share. (US$1 = RM4.154)

The shares of Class A common stock are expected to begin trading on the Nasdaq Global Select Market on Oct 28, under the ticker symbol ‘FLNC’. The initial public offering is expected to close on Nov 1, subject to customary closing conditions. 

In addition, Fluence has granted the underwriters a 30-day option to purchase up to an additional 4,650,000 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions.

According to a statement, J.P. Morgan Securities LLC, Morgan Stanley, Barclays Capital Inc., and BofA Securities are acting as joint lead book-running managers for the offering.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, UBS Securities, LLC, Evercore Group L.L.C., HSBC Securities (USA) Inc., and RBC Capital Markets, LLC are acting as joint book-running managers for the offering.

Nomura Securities International, Inc., Robert W. Baird & Co. Incorporated, Raymond James & Associates, Inc., Seaport Global Securities LLC, Penserra Securities LLC, and Siebert Williams Shank & Co., LLC are acting as co-managers for the offering.

The offering is being made only by means of a prospectus.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on Oct 27. 

-- BERNAMA