LONDON STOCK EXCHANGE TODAY WELCOMED AUTO TRADER GROUP PLC
London Stock Exchange today welcomed Auto Trader Group plc to open the market on the first day of dealings in the Company’s shares on the Main Market following its successful IPO.
Auto Trader sits at the heart of the UK’s vehicle buying process and operates the UK’s largest digital automotive marketplace. The Company is a 100% digital business, since successfully completing the transition from magazines to digital in 2013, and is solely focused on the UK and Ireland.
Auto Trader’s primary activity is to help vehicle retailers compete effectively on the marketplace in order to sell more vehicles, faster. The marketplace brings together the largest and most engaged consumer audience with the largest pool of vehicle sellers, resulting in the Group being able to offer the largest stock choice in the UK market.
The initial public offer priced at £2.35 pence per share, giving the business a market capitalisation of £2.35 billion at admission. As one of a handful of long-standing UK companies to have become a household name in the digital world, now seems the ideal time to join the UK stock market. It will provide a firm and consistent foundation for the next stage of development of Auto Trader.