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UK's Auto Trader confirms 2 billion pounds IPO plans -FT

Reuters - UK Focus

March 9 (Reuters) - UK's online car marketplace operator Auto Trader Group confirmed its plans of an initial public offering, the Financial Times reported.

The company expects a market capitalization of 2 to 2.5 billion stg, the newspaper said. (http://on.ft.com/185Qaoe)

Auto Trader said in February that it expects to float on the London stock exchange (Other OTC: LDNXF - news) in March.

Auto Trader, which is owned by Apax Partners, said the proceeds of the IPO will be used to repay the company's existing debt. ($1.51US = 1 STG) (Reporting by Rishika Sadam in Bangalore; Editing by Bernard Orr)