(Reuters) -The planned initial public offering of Autodoc is set to value the German online parts retailer at as much as 2.4 billion euros ($2.78 billion), the company said on Tuesday. The private
Autodoc's IPO is set to value car parts retailer at $2.8 billion
(Reuters) -The planned initial public offering of Autodoc is set to value the German online parts retailer at as much as 2.4 billion euros ($2.78 billion), the company said on Tuesday.
The private placement is set at a price range of 58 to 61 euros, which amounts to a total market capitalization of 2.3 to 2.4 billion euros, it said in a statement.
Under the IPO, existing investors plan to sell shares for between 383 million euros and 403 million euros.
The first day of trading on the Frankfurt Stock Exchange is scheduled for June 25, preceded by a private placement between June 17 and June 24, Autodoc said.
The IPO, announced earlier in June, has come as a surprise after many firms previously suspended listing plans amid growing uncertainty from global trade wars.
($1 = 0.8644 euros)
(Reporting by Isabel DemetzEditing by Ludwig Burger)
