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Italian tech startup MotorK eyes $175 mln Amsterdam IPO

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AMSTERDAM, Oct 14 (Reuters) – Italian software program firm MotorK mentioned on Thursday it aimed to lift 150 million euros ($175 million) with an preliminary public providing (IPO) of shares on the Amsterdam inventory trade earlier than the top of this yr.

MotorK gives a software program platform for automobile sellers to assist them handle gross sales and advertising and marketing actions. It mentioned it might use the proceeds to put money into growing new merchandise and to realize market share via acquisitions.

With over 250 workers unfold over seven international locations throughout Europe and in Israel, the corporate mentioned its platform was utilized by over 660 supplier teams and 13 tools producers.

Without giving additional monetary particulars, MotorK mentioned its revenues had elevated 46% between 2016 and 2020, whereas its earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) had been “positive” within the first six months of 2021.

Earlier this week, Dutch on-line retailer Coolblue postponed its Amsterdam IPO, initially deliberate for later this month, citing unsure market circumstances. learn extra

($1 = 0.8622 euros)

Reporting by Bart Meijer; Editing by Edmund Blair

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