German online car parts retailer AUTODOC intends to list on the Frankfurt Stock Exchange via a secondary share sale, a bookrunner on the initial public offering said.
The Berlin-headquartered company’s founders and the U.S. private equity firm Apollo Global Management will sell shares in the IPO. Still, the size of the offering has yet to be set.
According to the bookrunner’s document seen by Reuters, the offer structure is 100% secondary, indicating that the company will not receive any additional equity capital from new shares.
The retailer AUTODOC, founded in Berlin in 2008, is active in 27 European countries. The document said it mainly sells to consumers but is increasingly targeting business clients.