Renault pushes Ampere: talks with banks for IPO

Groupe Renault prepares the ground for the stock exchange listing of Ampere, the division specialized in electric vehicles and mobility services. La Losanga is in fact starting talks with some banking institutions specialized in investment transactions to push them to participate in the public offer that will see the spin-off of the business unit created for EVs. The French automaker has already sent requests for proposals to potential IPO subscribers, with the transalpine group likely to evaluate Ampere’s listing on the Euronext stock exchange in Paris as early as the fourth quarter.

Renault’s assessment of Ampere

As reported by Automotive News Europe, Renault would have in mind a valuation of around 10 billion euros for its new division specializing in electric vehicles although much will depend on market conditions. This new step is part of a broader transformation plan initiated by Luca de Meo since its arrival, with the Renaulution program and the new focus on electrification with the main objective of reducing the gap with competitors. Within the alliance, Nissan has pledged to buy up to 15% of Ampere with Mitsubishi Motors itself considering an investment. Alongside Renault in Ampere there will also be Qualcomm, a technology company specializing in processors, which will support the EV business unit.

Market uncertainty

The situation on the European market is currently not the best, with the sudden collapse of Credit Suisse which has unsettled investors and IPO operations which are now viewed with greater distrust, with these mechanisms having recorded a drop in investments of almost 50% in the first part of the year. However, the growth and consolidation of Renault in the last year could give confidence to the potential interested groups and realities, with the shares of the Lozenge which have grown by 60%.