Biggest IPO by a UK company: Arrival is valued at £ 9.5 billion as the electric vehicle maker is listed on the US Nasdaq
- Arrival shares traded on the Nasdaq yesterday at $ 22 each
- This gives the electric vehicle maker a valuation of around $ 13.6 billion (£ 9.5 billion).
- According to data, it is the largest float ever carried out for a UK company
- Arrival was founded in 2015 by Denis Sverdlov – a former Russian politician
The London-based electric bus manufacturer Arrival made its debut on the New York Stock Exchange in the largest float of all time for a British company.
The start-up, which has not yet started production of its vehicles and has not made a profit, traded on the Nasdaq yesterday at $ 22 per share and valued it at around $ 13.6 billion (£ 9.5 billion) .
That’s higher than Deliveroo, which is targeting a valuation of up to $ 12.2 billion by the end of this month and beats the previous record of $ 11.4 billion for Granada Media in 2000, according to Dealogic data.