Hyperloop TT postpones IPO
Hyperloop Transportation Technology (HTT), the US-based innovative transportation solutions developer, is postponing its IPO, reported Hospodarske Noviny. The Czech language item cited CEO of the company, Dirk Ahlborn, who was visiting a conference in Slovakia last week.
HTT last year announced its intention to float , however Ahlborn said that the time is not right for a IPO and hence the company is looking for alternative routes.
He added that HTT does not need to raise money; however it wants to offer possibility to its shareholders to monetize their stake.
The report explained that the company has received funding from 800 private investors and 50 companies in exchange for company shares.
HTT is currently preparing vacuum tubes to facilitate travel at high speeds between San Francisco and Los Angeles.
The route measures 550 kilometres and building one mile (1.6 kilometres) will cost USD 20m, the item added.