PARIS : A sizeable chunk of Renault's planned electric vehicle spinoff could remain in free float on the stock market, its CEO said in an interview published on Tuesday, declining comment on any further strategic investor who would join partners Qualcomm and Nissan. 'We need to leave some free float, beca
PARIS : A sizeable chunk of Renault's planned electric vehicle spinoff could remain in free float on the stock market, its CEO said in an interview published on Tuesday, declining comment on any further strategic investor who would join partners Qualcomm and Nissan.
"Porsche has left 10 per cent free float, and I think that we are aiming for a higher percentage, a minority, but sufficient to ensure liquidity", he added, referring to the luxury carmaker's $72 billion stockmarket debut last year, the biggest in Germany since 1996. Asked about the timing of the planned initial public offering , De Meo said it was still the plan to do the listing"from the end of 2023".
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