BNR – According to two sources, the German bus company Flix is accelerating the planning for a potential stock market listing. Flix owns the Greyhound and FlixBus brands in North America and Europe, respectively.
According to the sources, Flix has recently invited investment banks to bid on managing its share sale. Evercore, a corporate finance firm based in the United States, is assisting Flix with the transaction.
Flix has refused to comment. Evercore did not respond immediately to requests for comment.
After rising interest rates and economic turbulence, an IPO of Flix would provide optimism for capital markets. The Ukraine war has caused economic turbulence, causing many firms to postpone plans to list. The company started its bus services in Germany ten years ago, in 2011, by three businessmen in Munich who wanted to make bus travel more affordable.
Flix Revenue Growth
Flix operates bus and train routes across 40 countries. Its revenue has recovered as the public’s desire for travel has increased since pandemic controls were lifted.
Last year, the company’s revenue increased by 185% to over 1.5 billion euros ($1.64 billion).
Flix’s investors most recently supported the company in June 2021, when it raised $650 million in equity and debt. General Atlantic, Permira, and BlackRock are among the investors.
In Germany, only one stock market listing has occurred this year. Refinitiv data show that the stock raised $479 million. IONOS, a web hosting company, fell roughly 5% on its stock market debut in February, indicating investor moderation.
Nonetheless, media reports later in February stated that Flix was also considering an IPO. The atmosphere is still tense. WE Soda, a producer of natural soda ash, cancelled its plans to list in London this week.
several other European companies have stated that they are planning IPOs. Nucera, a German hydrogen company, and Hidroelectrica, a Romanian energy producer, are among the companies involved.