SoftBank-Backed Auto1 Soars in Debut After $2.2 Billion IPO
- Biggest gain at the open for a big IPO since Allegro in Oct.
- Vantage Towers, SUSE, Friedrich Vorwerk plan Frankfurt IPOs
Auto1 operates Europe’s largest wholesale platform for used cars.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Online used-car dealer Auto1 Group SE surged as much as 49% in its Frankfurt trading debut after its initial public offering raised 1.8 billion euros ($2.2 billion), the first in what is shaping up to be a busy year for German listings.
The stock’s jump at the open is the biggest in Europe among $1 billion-plus listings since Polish retailer Allegro.eu SA started trading 51% above its IPO price in October, according to data compiled by Bloomberg.