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Online car marketplace Auto1 is planning to list on the Frankfurt Stock Exchange in Q1, making it one of the first IPOs in what is expected to be a busy year for Europe.
The Berlin-based startup is looking to raise €1 billion (about $1.2 billion) from newly issued shares. Auto1 hasn t disclosed its target valuation, but Reuters reported that it could be over €5 billion. The company was valued at €2.9 billion in 2018 following a €460 million investment from SoftBank s Vision Fund.
Several German companies are reportedly eyeing IPOs this year, including laboratory group Synlab and Vodafone s European towers business Vantage. Beyond Germany, UK food delivery company Deliveroo and cybersecurity startup Darktrace are said to be planning public debuts.