- Auto Trader largest company to list on London Stock Exchange, to date, in 2015
- IPO raises £1.39 billion, largest fund raising since 2013, valuing Auto Trader at £2.35 billion
- Trades up 10 per cent from offer price
London Stock Exchange today welcomes Auto Trader Group plc, the UK’s largest digital automotive marketplace, to the Main Market. The IPO successfully raised £1.39 billion, the largest fundraising since 2013, giving the company a market valuation of £2.35 billion, the biggest IPO in London in 2015. To mark the occasion, Auto Trader’s longest serving employee, Kate Roberts, opened London trading this morning.
There have been 25 IPOs on London Stock Exchange this year, raising £3.39 billion, with an average post IPO performance of 11 per cent.
Tom Attenborough, Head of UK Large Cap Primary Markets, London Stock Exchange Group, said:“The success of today’s IPO reinforces London Stock Exchange’s confidence in the health of the IPO pipeline, particularly amongst strong UK brands. We are delighted to continue to provide issuers with access to high quality permanent capital and today we warmly welcome Auto Trader, Trevor Mather and his team to our markets.”
Trevor Mather, Chief Executive of Auto Trader, said: “Auto Trader is known across the UK & Ireland as the digital marketplace for buying and selling vehicles and we work hard every day to balance the needs of the vehicle retailers, helping them sell more vehicles and make more money, and the general public, helping ease the process of what should be an exciting moment in their lives – buying their next vehicle.
“I feel truly privileged to lead this business and I am very proud of our employees who have built an incredibly strong and trusted brand together with a hard working and innovative digital culture. I am both confident and hugely enthusiastic about our future, as we embark on the next stage of our growth as a public company.”
