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Auto Trader announces intention to float on the London Stock Exchange

Reuters - UK Focus

LONDON, Feb 26 (Reuters) - Online car marketplace operator Auto Trader has announced its intention to proceed with an initial public offering on the London Stock Exchange (Other OTC: LDNXF - news) , the company said on Thursday.

Auto Trader expects to be admitted to trade on the London Stock Exchange in March.

The company, which operates the UK's largest digital automotive marketplace and is held by Apax Partners, was recently approached by U.S. private equity firm Hellman & Friedman which was mulling a 2 billion pounds ($3.1 billion) takeover offer to derail the company's IPO plans. ($1 = 0.6437 pounds) (Reporting by Pamela Barbaglia; Editing by David Holmes)