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Highlights
- Founded in 1963, McLaren Group Limited has been in the center of listing rumors for a while now.
- Earlier this year, it was reported that the Woking, England-based company is considering going public at some point in 2021.
- Reports also suggested that it may go public via a merger with a special purpose acquisition company (SPAC).
McLaren Group Limited, a British automaker involved in Formula One and other such motorsports, has lately been quite popular among investors amid speculations of it going public.
Founded in 1963, McLaren Group has been in the center of listing rumors for a while now. Earlier this year, it was reported that the Woking, England-based company is considering going public at some point in 2021.
Reports also suggested that it may go public via a merger with a special purpose acquisition company (SPAC).
So, where is the latest interest in McLaren’s listing coming from right now? Let’s find out.
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Is McLaren Group going public?
McLaren Group has not released any official information about a listing as of now. However, what could have triggered the newfound interest in the British carmaker is an announcement from McLaren Technology Acquisition Corp.
McLaren Technology Acquisition Corp, which is a blank check company, said on Tuesday, November 2, that it is planning to launch an initial public offering (IPO) of 17.5 million units for a price of US$ 10 each.
The shell company, as per its release, is a part of McLaren Strategic Ventures Holdings Group, and it is looking to merge with financial technology (fintech) enterprises.
Units of McLaren Technology Acquisition Corp, which contain one of its Class A common stock and half of a redeemable warrant, is said to have begun trading on the Nasdaq on Wednesday, November 3, under the ticker of ‘MLAIU’.
Once its units begin to trade separately, McLaren Technology Acquisition’s shares and warrants are expected to go up on the Nasdaq under tickers ‘MLAI’ and ‘MLAIW’, respectively.
As for carmaker McLaren Group Limited, there has been no timeline announced as to when the company could be going public. However, some reports had noted earlier this year that its listing could raise a capital of as much as £500 million.
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Bottom line
While there is no news of a McLaren Group IPO, investors interested in the racing carmaker’s stocks could, with proper and careful research, explore its pre-IPO shares on stock trading platforms or via stock brokers.
Other than that, investors could also choose for McLaren to officially go public and then trade its stocks the same way they would for any other publicly-listed enterprise on the stock markets.
