Autosports Group IPO delayed until the end of October
The initial public offering of up-market car dealer, Autosports Group, has been pushed out to the end of October, according to market sources.
Initially, a raise of over $150 million was planned for the end of this month, although it is understood that time frame had now been tweaked to early October, as reported by The Australian’sBusinessNow blog.
There has been strong investor support for the luxury car dealer which owns 17 new car dealerships and two used car outlets.
UBS and Macquarie are acting as joint lead managers to the deal, while Luminis Partners were drafted in as financial advisers.
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