2021-02-05 Company Announcement

VMS Invested Company Auto1 Completed IPO

We are pleased to update that our invested company – Auto1 Group SE has successfully completed its IPO listing on the Frankfurt Stock Exchange on 4 Feb 2021.

Auto1’s IPO raised gross proceeds totaling EUR 1 bil with cornerstone investments of EUR 300 mil from Sequoia Capital and Lone Pine Capital, which represents the largest IPO in Germany since September 2019.

Its share price sprang up 39% from the IPO price at EUR 38 to EUR 52.9 per share on the first trading day.

Auto1 operates Europe’s largest wholesale platform for used cars. The business was adversely affected by COVID-19 during the first half of 2020. Its revenue however bounced back in Q3 2020 and “business has proven resilient” during the resumed lockdown period.

VMS invested in Auto1 in May 2017.

If you would like to hear the latest updates on the Firm and the Fund, please feel free to contact our Investor Relations team at IR@VMSIG.COM.

Back to News & Insight