Renault chooses banks for planned listing of electric car unit Ampere – source

Apr 20, 2023
French carmaker Renault's headquarters in Boulogne-Billancourt

PARIS (Reuters) – French carmaker Renault has picked BNP Paribas, Goldman Sachs and JPMorgan among the investment banks slated to work on the planned listing of its electric car business, Ampere, a source close to the matter said on Thursday.

The three banks will act as joint global coordinators on the initial public offering (IPO) of Ampere, the source said.

Citigroup, HSBC, Morgan Stanley, Natixis and Societe Generale will act as joint bookrunners, the source said, adding that Mediobanca will be the co-lead manager.

Bloomberg was first to report the names of the investment banks on Ampere’s IPO.

Renault aims to list Ampere in Paris this year, depending on market conditions. Sources have said the unit could be valued at up to 10 billion euros ($10.96 billion).

Renault’s management has not yet given a valuation for the unit, saying it was up to the market to do so.

The banks involved declined to comment or had no immediate comment. Renault declined to comment on the names or roles of the banks picked for the planned listing.

($1 = 0.9121 euros)

(Reporting by Silvia Aloisi,; Additional reporting by Gilles Guillaume, Mathieu Rosemain in Paris and Pablo Mayo Cerqueiro in London; Editing by Sandra Maler)