Pod Point, which provides charging points for electric vehicles (EVs) across Britain, has announced that it plans to list on the London Stock Exchange.
The company, which is majority owned by France’s EDF, said it plans a premium listing with a free float of at least 25%.
According to Pod Point, it is Britain’s largest provider of home charging points for EVs, and the second largest of workplace charging. The company booked revenue of £33.1 million in 2020, according to a report by Reuters, with an adjusted underlying loss of £12.3 million.
The company said the offer would comprise the sale of new shares and some by existing shareholders including Legal & General Capital Investments. EDF will maintain a stake of more than 50% following the listing.
The Pod Point network, which aims to offer a charge point everywhere drivers park, focuses on fast charging options, with only a few slow chargers available, and an increasing number of rapid charge points installed.
According to the Zap-Map database, the network currently has over 3,290 charging devices across the UK, making it the second largest network in the country. Of these, the vast majority are fast devices, although its network also includes rapid and slow devices.
While many Pod Point units are free to use, some incur a pay-as-you-go charge. All points are currently accessed via the Pod Point smartphone or web app.
EDF acquired a majority stake in Pod Point last year, in a deal that saw the energy group take control of one of the largest networks in the UK.
As part of a joint venture with Legal & General, the company invested in Pod Point, which at the time had installed over 62,000 home, workplace and public charge points across the UK as well as an additional 6,600 in Norway, according to the company’s figures.