By Pierre Bertrand

 

ABB Ltd said Thursday that it remains committed to its plan to list its E-Mobility business unit, but does not expect it to happen in 2022.

The Swiss industrial company said that, due to the current volatility in capital markets, it will keep waiting for the moment that conditions are right.

ABB, in call to media, didn't give a timeline as to when an initial public offering of a minority share of the unit would take place.

The company had planned to list the business in the second quarter of 2022 but postponed the share offering in June, citing challenging market conditions.

The unit is focused on engineering and making chargers and infrastructure for electric vehicles, including cars, buses and trucks.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

October 20, 2022 04:46 ET (08:46 GMT)

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