Norway based unique and simple solution that uses robots and bins to quickly process small parts orders AutoStore says that it’s aiming at feting $315 million from its initial public offering (IPO) on the Oslo Bourse Stock Exchange.
This initial public offering will go down as the largest IPO on the market for the last 20 years and according to analysts, it will leave the company with a market valuation of around $10 billion to $15 billion.
The company’s chief executive officer, Karl Johan, was asked if they will be doing a secondary listing in foreign capital markets he said that they have no such since they haven’t considered any other stock market apart from Oslo.
“We are a Norwegian company it was only natural for us to list in Oslo,” said the CEO. Johan also failed to disclose the expected market valuation by the company following the IPO.
Currently, the company has deployed around 20,000 robots across 35 countries to automate operations in its warehouses. The CEO adds that they are expecting to continue registering strong growth rate in Europe and North America.
“We expect that we will continue to grow strongly in Europe, we will grow even stronger in North America and the APAC region going forward,” added the CEO.