British Car Auctions gearing up for a float
British Car Auctions (BCA) is set to become the latest company to motor onto the stock market, despite “flotation fatigue” concerns.
BCA, owned by private equity firm Clayton, Dubilier & Rice, is said to have appointed investment banks to prepare a public listing this year potentially valuing it at £1.2billion.
The Enfield-based group sells more than 600,000 cars worth over £4billion a year at auctions and online.
Fashion retailer Fat Face have pulled planned listings over concerns that the market would undervalue them
BCA, with 43 sites in 12 countries in Britain and mainland Europe, has cashed in on rising sales and values of second-hand cars.
It follows electrical retailer AO World, Poundland, and Pets At Home in taking advantage of buoyant flotation markets.
But some such as fashion retailer Fat Face have pulled planned listings over concerns that the market would undervalue them.