Renault chooses banks for Ampere electric car unit IPO: source

Renault has chosen BNP Paribas, Goldman Sachs and JPMorgan among investment banks set to work on the planned listing of its electric car unit, Ampere, a source close to the matter said on Thursday.

The three banks will act together as global coordinators in Ampere’s initial public offering (IPO), the source said.

Citigroup, HSBC, Morgan Stanley, Natixis and Société Générale will act as lead banks, the source said, adding that Mediobanca will be the co-lead manager.

Bloomberg was the first to report the names of investment banks in Ampere’s IPO.

Renault intends to list Ampere in Paris this year, depending on market conditions. Sources say the unit could be valued at up to 10 billion euros.

The direction of the French automaker has not yet released an evaluation for the unit, saying that it is up to the market to do so.

The banks involved declined to comment or did not immediately comment. Renault declined to comment on the names or roles of the banks chosen for the planned listing.

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