MeinAuto cancels IPO

The car dealer actually wanted to go public on Wednesday. But this will not happen for the time being.
News by Tom Schmidtgen Tom Schmidtgen · Stuttgart, 12. May 2021

The car dealer actually wanted to go public on Wednesday. But this will not happen for the time being.

MeinAuto AG and its British owner Hg have jointly decided to postpone the IPO planned for this Wednesday. "The reason for this is the current unfavorable market conditions for high-growth companies," according to a statement from the new car dealer.

Currently, MeinAuto cannot guarantee that the share will develop positively. The initial issue of the share was actually scheduled to take place on the Frankfurt Stock Exchange on May 12. "As soon as market conditions stabilize," the company said, a new attempt will be made. After weeks of soaring highs, the DAX fell sharply at the start of the week.

The plan was to raise 150 million euros with the IPO. MeinAuto wanted to use this to expand. The Cologne-based start-up could also have become a unicorn. Hg has owned MeinAuto since 2018. The start-up sells new cars and focuses on subscription models with services. The MeinAuto Group employs 380 people. The company is now headquartered in Oberhaching near Munich.


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