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E-Bike supplier hGears plans Frankfurt IPO

BERLIN, April 28 (Reuters) - HGears, a supplier of high-precision gears and components for e-Bikes, plans a listing in the regulated market of the Frankfurt Stock Exchange, it said on Wednesday.

The company, which posted revenues of 126 million euros and an operational profit margin of 18% in 2020, said it plans to issue new shares of around 65 million euros.

The listing is expected to complete in Q2 2021, hGears said. (Reporting by Kirsti Knolle Editing by Riham Alkousaa)

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