Battery supplier to e-mobility biz prepares stock market listing

Supplier of electric bike and industrial battery technology, the BMZ Group is this week reported to be preparing for a Frankfurt stock market listing, likely to take place in Q3 this year. Sources told Reuters that the company will target a €2 billion valuation.

The article speculates that preparations for an IPO are underway with Citi (C.N), JP Morgan (JPM.N) and Berenberg said to be setting things up for the battery specialist. Shares worth about 500 million euros will apparently form part of the public offering.

This news follows the increase in demand throughout the automotive industry in a bid to reduce global carbon emissions and switch to electric, a point highlighted by the automotive show IAA rebranding as a mobility event with numerous cycling industry exhibitors.

A company spokesperson apparently told journalists: “We are continually considering our options”.

BMZ also announced a buyout of its own earlier this year as it revealed that it had acquired the struggling APA GmbH in a bid to improve its long-term manufacturing capabilities.

BMZ produce battery solutions for a wide-range of bike industry clients, with the catalogue spanning solutions for the likes of Brose, Gazelle and Shimano. The business is far broader though, delivering industrial products, medical grade battery and other energy storage solutions.

Though headquartered in Germany, the group has production facilities in China, Poland and the USA as well as branches in Japan, UK and France.