EnglishThe Czech Group AAA Auto, the leading used car dealer in Central and Eastern Europe, will be listed on the Prague and Budapest Stock Exchangees, according to The Prague Daily Monitor. All the details will be released to a press conference on Wednesday. Media reports indicate that the value of the IPO could reach 40 million EUR. September 4th is the preliminary, unconfirmed date of the IPO.
AAA Auto is planning to invest the funds thus obtained in Central and Eastern European expansion. Analyst Jan Prochazka told The Prague Daily Mirror that AAA"s success on the stock exchange would depend on the company"s ability to present their business plan and to ensure transparency. Based in Prague, AAA Auto operates in the Czech Republic, Slovakia, Poland, Hungary and Romania and sold some 61,000 cars last year, up by 22% than in 2005. Sales gained 24% to 349.1 million EUR. H1:2007 sales reached 38,617 units (+33%)
The Romanian unit was established in June 2005 and has sold over 5,000 cars since. Estimates for this year indicate a turnover of 30 million EUR (+20%) and 4,000 sold units. Next year, AAA Auto will open two regional centers in Cluj and Constanta for 5 million EUR each.
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