Stellantis's Aramis Group to Seek IPO in Paris
May 26 2021 - 5:20AM
Dow Jones News
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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