Auto1 goes public on 4 February
Tom Schmidtgen
| 25.01.2021
One share is expected to cost between 32 and 38 euros. Thus, 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. On February 4, the Berlin-based start-up will go public on the Frankfurt Stock Exchange. The issue price of the shares is expected to be between 32 and 38 euros. More than 31 million securities will be newly issued, in addition to 15.6 million shares from existing investors. Seven million share certificates will be held back as a reserve for the time being.
750 million has been budgeted for the growth of the Autohero platform. The used car platform is to be further expanded. The remaining revenue is expected to be used to pay off old debt.
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 has been positive," Auto1 CEO Christian Bertermann told Handelsblatt
. "We are looking forward to broadening our investor base."The subscription period starts on January 26 and runs until February 2. First day of trading on the Frankfurt Stock Exchange is expected to be February 4.
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Startup
2012
Berlin
Auto1
Wholesale platform for professional car dealers.
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