Caltex Australia chief executive Julian Segal shook off concerns about any impact from the growing take-up of electric cars on the initial public offering of 250 of its service stations, saying the business was future-proofed thanks to its strong retail arm.

The IPO, which analysts expect could raise about $1 billion, is proposed for the first half of 2020, with Caltex willing to sell up to a 49 per cent stake. The 250 ''core'' sites in the proposed real estate investment trust make up about half of Caltex's 500-strong petrol and convenience store retailing network.