DGAP-News

AUTO1 Group plans initial public offering (IPO) in Q1 2021

DGAP-News: AUTO1 Group SE / Key word(s): IPO AUTO1 Group plans initial public offering (IPO) in Q1 2021 13.01.2021 / 07:30 The issuer is solely responsible for the content of this announcement. NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT DISCLAIMER AT THE END OF THIS RELEASE.

Press Release

AUTO1 Group plans initial public offering (IPO) in Q1 2021

• AUTO1 Group is Europe's leading platform for consumers and professional dealers to buy and sell used cars online with ~€3.5 billion in revenues and more than 615,000 cars sold in 2019
• Proven business model based on extensive data set, proprietary technology, strong brands, pan-European fulfillment infrastructure, and superior customer experience
• Vast market opportunity in a ~€600 billion used car market in Europe with a high degree of fragmentation and an accelerating shift from offline to online
• The Company targets gross proceeds of approximately €1 billion from newly issued shares. It intends to invest approximately €750 million of the net proceeds to further accelerate the growth of its business, especially of Autohero, and it is expected to use the remainder to repay an existing convertible loan
• Secondary component may be provided by pre-IPO shareholders to help ensure additional liquidity in the aftermarket
• Intended listing on the regulated market (Prime Standard) of the Frankfurt Stock Exchange expected to be completed in Q1 2021, subject to market conditions

Berlin, 13 January 2021 - AUTO1 Group SE (the "Company" and, together with its consolidated subsidiaries, "AUTO1 Group") today announced its intention to list its shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. The planned offering is expected to comprise newly issued shares from a capital increase and existing shares as well as shares in connection with possible over-allotments (the "Offering"), covered by a greenshoe option provided by certain selling shareholders. The Company plans to complete the Offering in the first quarter of 2021, subject to market conditions. The Offering is envisaged as a public offer in Germany and private placements with institutional investors in certain jurisdictions outside Germany.