From Bloomberg via Yahoo Finance:
AutoStore is weighing an initial public offering that could value the Norwegian warehouse robotics company at more than $10 billion, according to people familiar with the matter.
The company is working with Morgan Stanley and JPMorgan Chase & Co. on the planned listing, which could come as soon as this year, the people said, asking not to be identified discussing confidential information. More banks could get added to the roster at a later date. While the venue for the IPO hasn’t been confirmed, AutoStore is leaning toward listing on a European exchange, the people said.
Deliberations are ongoing and no final decisions on the timing and size of an IPO have been made, according to the people.
Founded in 1996, Nedre Vats-based AutoStore provides robots used in the storing and retrieval of goods in warehouses. It specializes in so-called cube storage automation and its technology is deployed at more than 600 sites in 35 countries.
Private equity firm Thomas H. Lee Partners acquired the company in 2019. In April, it sold a 40% stake in AutoStore to SoftBank Group Corp. in a deal that valued the company at $7.7 billion including debt....
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