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(Bloomberg) — DuPont Registry Group, a luxury car marketplace and media company, has picked banks for a US initial public offering, according to people familiar with the matter.
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The company is working with Morgan Stanley, Barclays Plc, Jefferies Financial Group Inc. and Royal Bank of Canada on the IPO, which could happen as soon as this year, the people said, asking not to be identified as the matter is private. The first-time share sale could raise a few hundred million dollars, some of the people said.
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DuPont Registry Group, which connects buyers and sellers of supercars, is also in discussions with investors on potential private funding, the people said.
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Francois Perrodo, president of Perenco and an avid race car driver and influential collector, made a strategic investment in Dupont in October at a valuation that reached “unicorn status,” the company said in a statement at the time.
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Deliberations are ongoing and details could change, the people said. Representatives for DuPont Registry Group, Jefferies and RBC didn’t immediately respond to requests for comment. Spokespeople for Morgan Stanley and Barclays declined to comment.
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An offering could bolster what’s been a stop-and-start market for companies exposed to consumers amid an IPO boom, which has resulted in the best half-year ever for US listings, data compiled by Bloomberg show. Blackstone Inc.-backed Jersey Mike’s Subs Inc. and gas-station and convenience-store operator Cumberland Farms Ltd. filed for IPOs last week. Reformation Inc., a sustainable womenswear brand that’s backed by private equity firm Permira, made its filing public at the end of June.
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DuPont Registry Group’s brands include DuPont Registry, Canossa Events, Cavallino, Supercar Owners Circle, Petrolicious, and Sotheby’s Motorsport, according to its website.
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