MeinAuto can hope for a stock market valuation in the billions
The car dealer's IPO is official this Wednesday. The company itself is expected to raise 150 million euros.
The online car dealer MeinAuto will probably reach a valuation of over one billion euros at its stock market debut this week. This is reported by the Handelsblatt. The banks overseeing the IPO have signaled to investors that they are aiming for an issue price of 16 to 17 euros per share, according to the newspaper.
The IPO is therefore likely to have a volume of over 400 million euros, increasing the company's valuation to a total of 1.19 to 1.26 billion euros. MeinAuto itself is likely to raise the targeted 150 million euros from the leap to the capital market, with the remaining money going to the investor Hg Capital.
The British investors from Hg only created MeinAuto in its current form in 2018; the company is a merger of the start-up Meinauto.de, the former HypoVereinsbank subsidiary Mobility Concept and a car sponsorship broker.
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