Renault expects the Ampere IPO to be valued at up to ten billion euros
The French car manufacturer Renault is hoping for a valuation of up to ten billion euros when its electric vehicle division Ampere goes public. Ampere could be worth “eight, nine, ten billion” euros when it goes on the floor next year, said Renault boss Luca de Meo of the “Financial Times” on the occasion of the IAA in Munich, according to a report on Tuesday. Renault is still targeting an IPO for Ampere in the spring, market conditions permitting, de Meo confirmed to Reuters on Monday.
However, he did not want to comment further on a possible valuation of the electric vehicle division. “I don’t set the price. The only thing I can do is give some details and we will do that next week, we will go to New York, we have to go to the investors,” de Meo told journalists. The major bank UBS had given Ampere a valuation of three to four billion euros in an IPO last week.