Auto Trader shares motor ahead in largest public offering since Royal Mail
Britain's biggest online car seller Auto Trader's shares have soared on its first day of training in the biggest stock floatation since Royal Mail.
With shared priced at 235p each, giving the company a value of £2.35bn, conditional trading of the stock saw it hit 273p at one point.
Founded 37 years ago Auto Trader, which is owned by private equity firm Apax, has more than 1,000 employees and attracts 35m visitors to its website each month.
Guardian Media Group sold the final 50 per cent of Auto Trader for £619m last year. At the time the company was valued at £1.75bn including debts.