AutoTrader Pulls $300M IPO Plans
For the second time, Atlanta-based AutoTrader Group Inc. pulled plans to go public, according to a recent SEC filing.
ATLANTA, Ga. — AutoTrader Group Inc. pulled its $300 million IPO in late January after filing IPO plans in June 2012. According to its registration withdrawal request with the Securities and Exchange Commission (SEC), the online automotive marketplace cites “prevailing market conditions” as the reason for putting on the brakes.
The Atlanta Business Chronicle reports the stock was expected to trade on the New York Stock Exchange or The NASDAQ Global Market as “ATG.” SEC filings reveal the Jan. 25, 2013 withdrawal is the second time AutoTrader aborted plans to go public, citing its withdrawal back in 2000 when the company filed for a $65 million IPO.
Read the Atlanta Business Chronicle’s full story here.
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