AA and RAC may jump-start London markets: Breakdown restoration rivals mull UK IPOs
Two of Britain’s biggest roadside assistance groups could help the stuttering
London market get back on the road next year with bumper initial public offerings (IPOs).
The AA’s owners have been sounding out buyers over a possible £5billion sale or London listing, the Financial Times reported.
The RAC is said to be targeting a similar valuation in a UK IPO, with a sale also possible.
The firms declined to comment. Recent market debuts from Princes Group, Beauty Tech and Shawbrook have offered a glimmer of hope that the London market is recovering.
Reports suggest Norwegian software giant Visma could be heading for a bumper £18billion float next year alongside the possible IPOs for the AA and the RAC.
City rescue: The AA’s owners have reportedly been sounding out buyers over a possible £5bn sale or listing and the RAC is said to be targeting a similar valuation in a UK IPO
The AA previously had a rocky six-year spell on the stock market after being saddled with huge debt by previous owners.
It was taken private in 2020 and is owned by a consortium including TowerBrook, Warburg Pincus and Stonepeak.
The RAC is owned by CVC, Silver Lake and Singapore investment fund GIC.
DIY INVESTING PLATFORMS
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
