By Joe Hoppe

U.K. electric-vehicle-charger provider Pod Point said Monday that it intends to hold an initial public offering on the London Stock Exchange next month, in which it expects to raise 120 million pounds ($165.0 million).

The company, which is majority owned by Electricite de France SA, said there will also be a targeted offering to institutional investors by Legal & General Capital Investments Ltd. and certain employees.

Following admission, which is expected in November, the company will have a free float of at least 25% of its issued share capital and expects to be eligible for inclusion in the FTSE U.K. indices.

EDF is expected to retain a stake of more than 50% after admission and will continue to support the company's growth through co-operating with its U.K. customer base and providing access to its energy value chain capabilities.

Legal & General will also remain a minority shareholder and will continue to work with Pod Point.

Barclays Bank PLC and Bank of America Securities have been appointed as joint global co-ordinators, and as joint bookrunners together with Numis Securities.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

October 18, 2021 04:03 ET (08:03 GMT)

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