French second hand car group Aramis eyeing IPO || Initial Public Offering Process Flow Chart

French second hand car group Aramis eyeing IPO || Initial Public Offering Process Flow Chart
French second hand car group Aramis eyeing IPO


PARIS (Reuters) - France's Aramis Group, which specializes in selling second-hand cars online, said on Monday it was exploring an initial public offering (IPO) in Paris, which was used to boost vehicle sales. The latter occurred and as it grows throughout Europe. .


The firm - which is 70% owned by Stellantis, a merger of France's PSA and Italian-American conglomerate Fiat Chrysler - also announced that it was entering the UK market with a majority stake in motorspot, Joe owns the CarSuper.com platform. .


It did not provide a financial statement for the purchase, but said in a statement that it would take Aramis' annual sales above 1 billion euros ($ 40 billion).


The group is already operating in Spain and Belgium, and has benefited from a growing interest in used cars in the COVID-19 epidemic, when people have run away from other forms of transport.


Its revenue, excluding some of Belgium's business activities that it was planning to close, was 16% to 851 million euros by September 2020 in its fiscal year.


Stellantis will continue to be a majority shareholder after the stock market listing, Aramis said, while the group's two co-founders will also have stakes.


The company added, "The IPO will strengthen the group's strategic and financial flexibility to pursue growth opportunities and accelerate its growth across Europe."


French cloud computing service provider OVHcloud has begun the process for a possible listing in Paris, a spokesman said on Monday after a slow start to the year for the French IPO.


($ 1 = 0.8434 euro)

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