London Stock Exchange welcomes largest IPO yet of 2015
Xinhua, March 24, 2015 Adjust font size:
The London Stock Exchange Tuesday announced that Auto Trader Group, a British digital automotive marketplace, completed the biggest initial public offering (IPO) so far this year, as well as the largest fundraising activity since June 2013.
The IPO successfully raised 1.39 billion pounds (2.07 billion U.S. dollars), giving the company a market valuation of 2.35 billion pounds, marking the biggest IPO in London in 2015, said London Stock Exchange in a press release.
Tom Attenborough, Head of UK Large Cap Primary Markets, London Stock Exchange Group, said: "The success of today's IPO reinforces London Stock Exchange's confidence in the health of the IPO pipeline, particularly amongst strong UK brands."
Data showed that there have been 25 IPOs on the London Stock Exchange this year, raising 3.39 billion pounds, with an average post IPO performance of 11 percent. (1 pound = 1.49 U.S. dollars) Endit