Renault's Electrifying Leap - Ampere IPO Could Hit $10.8B Valuation: Report
Portfolio Pulse from Nabaparna Bhattacharya
Renault's CEO Luca de Meo has indicated that the company's new electric vehicle division, Ampere, could reach a valuation of up to $10.75 billion in an IPO expected in the first half of 2024. The exact pricing is yet to be confirmed. Nissan, as part of its restructured alliance with Renault, has committed to invest up to €600 million in Ampere. Renault's shares (RNLSY) closed lower by 6.7% to $7.52 on Friday.
September 05, 2023 | 10:54 am
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Renault's shares closed lower by 6.7% to $7.52 on Friday, potentially due to investor uncertainty about the Ampere IPO.
The news of Ampere's potential IPO and its high valuation could be causing uncertainty among investors, leading to a drop in Renault's share price. The fact that the exact pricing of the IPO is yet to be confirmed may also be contributing to this uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Nissan has committed to invest up to €600 million in Ampere as part of its restructured alliance with Renault.
Nissan's commitment to invest in Ampere shows its confidence in the new EV division and its potential. However, the impact on Nissan's stock price is uncertain as it will depend on the success of Ampere and the overall performance of the EV market.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70