Europcar IPO values firm at €854 million

Europcar is expected to be valued at more than €854 million through a listing on the Paris stock exchange.

The car hire company will gain around €475 million from the proceeds of newly issued shares as a result of the IPO.

Trading of the company’s shares on the Paris Euronext is expected to start on June 30.

Details of the planned IPO comes half-way through a ‘Fast Lane’ cost and efficiency strategy designed to boost growth by 5% by 2017.

Net income for 2015 before non-recurring items is expected to reach about €125 million, the company announced today.

Europcar chairman, Philippe Germond, said: “This IPO marks a major milestone in our growth strategy.

“As Europe’s leading car rental company, we are ideally poised to benefit from new consumer trends, especially in terms of mobility and shared solutions.

“We see many new opportunities on the horizon; the IPO will let us take advantage of those opportunities, leveraging our strengths to pursue our Fast Lane transformation plan and bolster our business development.

“We aim to become our customer’s preferred partner for mobility services.”

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