Softbank-Backed AutoStore IPO: 8 Things to Know Ahead of $12 Billion Offering

AutoStore, which deploys tens of thousands of robots globally to automate warehouses, is scheduled to go public this month. Here are 7 key things to know about the upcoming AutoStore IPO, which is expected to be one of the largest in the history of Norway.

1. AutoStore IPO Date - AutoStore is due to go public on October 20. AutoStore shares will begin trading on the Euronext Oslo stock exchange.

2. AutoStore IPO Pricing - AutoStore expects to price its shares between 27.00 and 31.00 NOK.

3. AutoStore IPO Valuation - AutoStore is seeking a valuation of between $10.56 billion to $12.1 billion.

4. AutoStore IPO Raised Proceeds - AutoStore plans to raise $315 million while its backers are seeking about $1.5 billion. The company plans to use the raised proceeds to reduce debt, invest in growth and allow share sales by its investors.

5. AutoStore IPO Underwriters - Carnegie, J.P Morgan, Morgan Stanley, ABG Sundal Collier, Citigroup, Jefferies, Mizuho Securities, SpareBank 1 Markets, and Moelis & Company are running the IPO.

6. AutoStore Owners - AutoStore is owned by private equity firm Thomas H. Lee Partners, SoftBank Group Corp., and EQT AB. The company said that at least four investing firms - Alecta Pensionsforsakring, FIL Investments, Mawer Investment Management and WCM Investment Management, have committed to invest $200 million each.

7. AutoStore Customers - AutoStore counts ASDA, Gucci, Lufthansa, Puma, and others as its key customers.

8. AutoStore Financials - The company said its sales jumped 88% in the first half of 2021 to roughly $150 million. Last year, AutoStore generated net revenue of $182.1 million. The company is calling for revenue of $300 million this year and over $500 million in 2022. AutoStore said its project pipeline is estimated at $3.4 billion.

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