[ad_1]
One of Britain’s fastest-growing electric vehicle (EV) charging infrastructure networks will next week confirm plans to go public on the London stock market.
Sky News has learnt that Pod Point is expected to announce its expected intention to float as early as next Monday, with the company’s shares making their trading debut in early November.
City sources said on Wednesday that Pod Point had recruited Andy Palmer, the former Aston Martin chief executive, as its senior independent director.
The initial public offering (IPO) will be a boost to the London market’s efforts to position itself as a hub for advanced automotive-related technology following the deluge of EV businesses which have listed in New York through special purpose acquisition companies (SPACs).
Since leaving Aston Martin last year in the wake of its dismal post-IPO performance, Mr Palmer has utilised his extensive experience of the EV revolution by becoming chief executive of Switch Mobility, an electric bus-maker.
He is also involved with several other businesses in the EV space.
Earlier this year, Sky News revealed that Pod Point had lined up Gareth Davis, the former Imperial Tobacco chief, as chairman to steer it through an IPO.
The company’s likely valuation when it makes its public debut is unclear, although one insider said it was unlikely to be a unicorn – referring to a valuation of at least $1bn.
Bank of America, Barclays and Numis are working on the IPO.
EDF currently has a controlling stake in Pod Point
Pod Point, which is majority-owned by EDF, the French state-backed energy giant, wants to capitalise on rising demand for electric vehicle charging points.
EDF bought a controlling stake in Pod Point little more than a year ago, with its other shareholders including Legal & General.
The energy regulator, Ofgem, recently gave…
[ad_2]
Source : skynews
