The Berliner Car replacement dealer Autodoc wants to go to the stock exchange in June. The papers should be on the prime standard of Frankfurter Stock exchange be traded, as the company announced on Friday. A placement of existing shares in Germany and selected other countries is planned, through which the founders and the US financial investor Apollo Global Management separate.
The private placement and the initial note are still planned for the second quarter, depending on the market conditions. The aim is to achieve substantial free floats and thus a sufficient liquidity of the papers. The is organized IPO From Citi, Barclays, Deutsche Bank and Jefferies. The company did not give any further details. It would be the first IPO in the Prime Standard this year.
Autodoc was founded in 2008 and describes himself as the leading European online retailer for car replacement parts. The company with around 5,000 employees offers more than 6.7 million parts for hundreds of car brands via the Internet.
According to its own statements, the company generated revenues of 427.3 million euros in the first quarter, which is a fifth more than in the previous year. The adjusted profit was 18.9 percent higher at 33.9 million than a year ago. Autodoc benefits from the increasing average age of the cars in Germany and many other European countries, which drives the demand for spare parts.
How high the evaluation could be on the upcoming IPO remained open at first. In 2021 there was talk of up to 5 billion euros. In a conversation with the “Handelsblatt”, CFO Lennart Schmidt had most recently referred to this as “ambitious”.
At the moment, larger companies apparently also dare to jump to the stock exchange after the strong fluctuations on the financial markets thwarted some emission plans in the spring. Among other things, according to insiders, the Munich medical software company Brainlab is in the starting blocks for an IPO before the summer break. According to a report by the “Börsen-Zeitung”, an assessment of 2 to 3 billion euros is targeted.