Fastned, a fast charging network operator based in the Netherlands, opened trading on Euronext. It wasn't an IPO per se since Dutch retail investors could previously already subscribe to certificates through a boutique trading desk. Those certificates traded (with very little liquidity) at around 8-11 EUR/share for the last few years. Today, first day on Euronext the share price rose from 11 EUR at opening to 31 EUR right now (late afternoon here). Market cap is around 470M EUR for 103 in-service CCS charging stations at prime locations in the Netherlands and Germany with a further 150+ in development in the Netherlands, Germany, the UK, Switzerland and Belgium. It remains to be seen how much of that share price is just opening day excitement in a small market (volume worth of 2.4M EUR so far) or a lasting valuation.
Still, assuming Fastned is valued at $500M, how much should we value the Tesla network within Tesla? On the one hand the supercharger network is a lot bigger, but on the other hand it is restricted to one brand and (at least in Europe) not located in the same premium locations as Fastned's. Still, $2-3B just for Tesla charging network does not seem an implausible valuation?