Renault Buys Time on Electric Unit IPO Amid Outlook Raise (1)

Renault SA pushed out the likely timing for a listing of its electric-vehicle arm following investor feedback while upgrading its earnings outlook for the year.

The carmaker will hold the initial public offering of the Ampere unit in the “most favorable window,” which will most likely be the first half of next year, Chief Financial Officer Thierry Pietonsaid Thursday.

Previously, the company said the share sale in the Ampere unit could happen as early as the end of 2023.

Renault rose 4.9% as of 9:45 a.m. in Paris trading, the top-performing stock in France’s benchmark CAC 40 Index.

The Renault Austral crossover SUV.

Source: Renault SA