ALD takes first steps towards IPO
ALD Automotive has registered its intention with the French markets regulator AMF (Autorité des Marchés Financiers) as the first step in the Initial Public Offering (IPO) process.
ALD Automotive has taken the first step in the Initial Public Offering (IPO) process.
The news was reported by Reuters, which says it’s received word that parent firm Société Générale along with JP Morgan and Credit Suisse are appointed as global coordinators.
Reuters added that its sources say the business could be valued at between 6 billion euros and 9 billion euros in the IPO and that Société Générale plans to sell a 20-25% stake in ALD.
The plans to float the company were announced by Société Générale earlier this year, with the banking giant saying it would dispose of a limited stake of the wholly owned subsidiary to “enable ALD to accelerate its growth and become a leader in the mobility sector”.
ALD – which did not comment on the news – manages nearly 1.4 million vehicles with a geographical coverage spanning 41 countries.
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Natalie Middleton
Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.
