German online car retailer Mobility plans stock market float

German online car retailer and leasing firm Mobility Holding known for the MeinAuto.de site is preparing for a stock market flotation that could value it at 1.3-1.4 billion euros ($1.6-1.7 bln), including debt, people close to the matter said.

Mobility would be the second online car retailer to list in Frankfurt in the first half of this year. But while Auto1 – which launched its initial public offering last week – focuses on used cars, Mobility sells and finances new cars.

Private equity firm Hg acquired Mobility Concept from Unicredit Leasing in 2018 and combined it with MeinAuto.de, which calls itself Germany’s leading online platform for new cars.

Hg is working with Bank of America and Jefferies on the listing, they added.

Hg and the banks, whose mandates were first reported by Bloomberg, declined to comment or were not immediately available for comment.

Read more: Reuters