Market Chatter: Apollo Global Management-Backed Autodoc Selects Banks for Frankfurt IPO

MT Newswires Live11-02

Apollo Global Management-backed (APO) Autodoc has selected banks for a potential initial public offering and listing on the Frankfurt stock exchange, Bloomberg reported Friday, citing people familiar with the matter.

Autodoc picked Barclays, Citigroup (C), Deutsche Bank AG and Jefferies Financial Group (JEF) to guide the stock sale, which might occur in the upcoming year, the people reportedly said.

The company's valuation in an IPO might be less than 10 billion euros ($10.84 billion) it aimed for in 2021, the report added.

Discussions for the potential offering are ongoing but details may change, according to the report.

Neither Autodoc nor Apollo immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 141.18, Change: -2.08, Percent Change: -1.46

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