Auto Trader Launches U.K. IPO, Garners £2.35B Market Cap
March 20, 2015
Apax Partners-backed Auto Trader, the U.K.'s largest digital automotive marketplace, has completed its IPO, floating 59% of its shares on the LSE under the symbol AUTO. With shareholders selling a total of 590 million shares for £235 pence each, the company's portion of the capital raised was £437 million; it garnered a £2.35 billion market cap as per the offering price. Initially backed by Apax in 2007, Auto Trader is a motor vehicle marketplace with over 15 million monthly users.