Auto Trader shares leap 13.5% on market debut

autotraderThe UK’s biggest website for second-hand car sales had set the price for its initial public offering at 235p-per-share, giving it a market value of £2.35bn. In 2007 Apax acquired 49.9% of Auto Trader from the Guardian Media Group (GMG) and in 2014 acquired the remaining 50.1% for £619m.

FYR to March 2013 EBITDA was £143.9m on sales of £251.8m representing a P/E of 16.3.