By Kim Richters 
 

Aramis Group, majority-owned by Stellantis NV, said Wednesday that it is reviewing a possible listing on the Euronext stock exchange in Paris.

Aramis, which operates an online platform to buys used cars, said it plans to raise at least 250 million euros ($306.3 million) with the initial public offering, but noted that the listing remains subject to favorable market conditions.

Stellantis--which was formed in the merger of car maker Peugeot and peer Fiat Chrysler--owns around 70% of the company's capital and wouldn't sell any shares as part of the listing, Aramis said.

Aramis said founders Nicolas Chartier and Guillaume Paoli would continue to be reference shareholders and head the company after the IPO.

For the financial year ending Sept. 30, the company expects organic revenue of more than EUR1.25 billion and a margin for earnings before interest, taxes, depreciation and amortization between 2.7% and 2.9%. Both targets are on a pro-forma basis to include the recent CarSupermarket deal and assume no further disruptions related to the coronavirus pandemic.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

May 26, 2021 05:10 ET (09:10 GMT)

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