PARIS (Reuters) – Aramis, a subsidiary of Stilantis that specializes in selling used cars online, announced on Wednesday that it wants to raise at least 250 million euros through an initial public offering in Paris, which has bypassed the first step with it. Approval of its registration document.

Stellantis, which holds approximately 70% of the equity, will not sell any shares as part of this deal and will retain a majority stake.

Aramis is targeting organic revenues of more than € 1.25 billion and an EBITDA margin between 2.7 and 2.9% for the current fiscal year ending at the end of September.

Morgan Stanley and Société Générale act as global coordinators and joint accountants, and BNP Paribas, Citi, and Crédit Agricole Corporate and Investment act as “joint directors” of the IPO project. Rothschild & Partners act as independent financial advisor and Natixis Partners act as financial advisor to Stellantis. (Bertrand Bossi, edited by Patrick Vignall)