Auto1 goes public on February 4

One share is expected to cost between 32 and 38 euros. The IPO is expected to raise 1.5 billion euros.

The IPO of online car dealer Auto1 is expected to raise at least 1.5 billion euros. The Berlin-based start-up will go public on the Frankfurt Stock Exchange on February 4. The issue price of the shares is expected to be between 32 and 38 euros. More than 31 million new shares will be issued, plus 15.6 million shares from existing investors. Seven million shares will be held in reserve for the time being.

750 million euros have been earmarked for the growth of the Autohero platform. The used car platform is to be further expanded. The remaining proceeds are expected to be used to pay off old debts.

According to the company, two major shareholders have already declared their intention to acquire share packages with a total value of 300 million euros. "The initial feedback on our planned IPO in Frankfurt was positive," Auto1 Managing Director Christian Bertermann told the Handelsblatt. "We are looking forward to broadening our investor base."

The subscription period begins on January 26 and runs until February 2. The first day of trading on the Frankfurt Stock Exchange is scheduled for February 4.