PRESS: RAC unlikely to IPO in London prior to end of year - FT

(Alliance News) - Driving services provider RAC is aiming for an initial public offering towards the end of 2026, rather than as soon as the first half of the year, prolonging the drought of IPOs in London, the Financial Times reported on Wednesday.

RAC, founded as the Royal Automobile Club, is targeting a GBP5 billion valuation, the FT said.

While it had been preparing for an IPO as soon as the first half of the 2026, it is now working towards a post-summer timeline, mostly likely the final months of the year, the newspaper said, citing "people familiar with the matter".

RAC is currently owned by private equity firms, including CVC Capital Partners PLC, Silver Lake Partners, and Singapore government investment fund GIC. A sale of RAC by its private equity owners was previously considered, the FT said, but RAC now is focused solely on a listing, according to "one person close to the situation".

By Tom Waite, Alliance News editor

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