French second-hand car group Aramis takes first step towards IPO
26/05/2021 07:48
PARIS, May 26 (Reuters) - France's Aramis Group, which
specialises in selling second hand cars online, said on
Wednesday its had taken a first step towards an initial public
offering (IPO) in Paris this year following a boom in used
vehicle sales and as it looks to grow across Europe.
The firm - which is 70% owned by Stellantis STLA.MI
STLA.PA , the carmaker formed by the merger of France's PSA and
Italian-American group Fiat Chrysler - said its registration
document had been approved by the French financial markets
authority (AMF).
"(This) constitutes the first step of its contemplated IPO
on the regulated market of Euronext Paris", Aramis said.
"The completion of the IPO is subject to the approval of the
prospectus relating to the offering by the AMF, as well as
favorable market conditions", it added.
Aramis also said Stellantis will maintain a majority
ownership after the IPO.
(Reporting by Benoit Van Overstraeten; Editing by Dominique
Vidalon)
((benoit.vanoverstraeten@thomsonreuters.com; +33149495339;))