Lei Jianping reported on October 30
Fluence Energy (stock code: "FLNC"), an energy storage technology company backed by Germany's Siemens, recently listed on the NASDAQ in the United States at an issue price of $28.
Fluence Energy issued 31 million shares, raising a total of $868 million.
Fluence Energy opened at $33.5, up 19.64% from the issue price; closed at $35, up 25% from the issue price; the next day, Fluence Energy rose another 1.63%.
Based on the closing price of the next day, Fluence Energy had a market capitalization of $5.928 billion.
Founded in 2018 and headquartered in Virginia, USA, Fluence Energy is a provider of energy storage products and services consisting of Siemens and AES.
Fluence Energy is driving the global clean energy transition with market-leading energy storage products and services and digital applications for renewable energy and storage.
Fluence Energy's nine-month revenue for the nine months ended June 30, 2021 was $493 million, compared to $322 million for the year-ago quarter, and net income was $2.87 million, compared to a net profit of $5.68 million for the year-ago quarter.
In April 2021, Fluence Energy announced that it had received a $125 million investment from the Qatar Investment Authority through a private placement transaction. The net proceeds were used to further develop the company's energy storage products, especially digital products, and to promote its energy storage products and services in more markets around the world.
After the IPO, AES Grid Stability and Siemens Industry each held 45.8% of the voting rights, and The Blocker Shareholder had 2.9% of the voting rights.
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