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Wallbox starts trading on the New York Stock Exchange with a 9% rise

New York, Oct 4 (EFE) .- The Spanish company Wallbox, specialized in charging solutions for electric vehicles and energy management, began trading on the New York Stock Exchange (NYSE) this Monday with a rise of 9% after its business combination with a “spac” or “blank check” signature.

Around 11 a.m. local time (15:00 GMT), Wallbox became the first unicorn – as companies with a private valuation of more than $ 1 billion are known – to be traded on the NYSE, under the symbol WBX and at a price of 9.02 dollars per share (an advance of 9%), according to market data.

That initial momentum moderated as the hours passed and the shares ended their opening session with a value of $ 8.60 (an advance of 6.57%).

Wallbox, created in Barcelona in 2015, agreed at the beginning of June to merge with the “spac” (company with special purpose of acquisition) Kensington Capital Acquisition Corp. II and this Monday announced that the transaction will mean net income close to 252 million euros. Dollars.

The New York Stock Exchange building, south of the island of Manhattan, dressed its historic facade for the occasion with a huge black sign that read in green and white letters: “Wall Street, meet Wallbox”, next to the motto “Unlocking the power of EV charging”.

The event elicited comments from passersby, including a group of tourists who stopped to listen to a guide in Spanish explaining the IPO, and also generated excitement on the same floor, where its executives gave chained interviews during the morning before starring. the ringing of the bell at the close.

The Spanish emerging company, which is owned by Iberdrola, offers various products, from chargers for public electric vehicles (Supernova), other bidirectional ones – which charge, but also provide energy – (Quasar) or energy management systems (Sirius).

In the first half of 2021, it had a turnover of 32 million dollars – about 27 million euros -, 300% more than in the first 6 months of 2020, and has incorporated 305 workers, reaching a workforce of 643 employees.

(c) EFE Agency

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