Key facts
- The RAC has shelved its plans for a London IPO.
- The company's owners have chosen a continuation vehicle.
- The RAC was expected to be valued at approximately £5 billion.
The RAC, a prominent breakdown assistance provider, has decided to abandon its planned initial public offering (IPO) on the London Stock Exchange. Instead of pursuing a public listing, the company's owners have opted to use a continuation vehicle. This move, which was anticipated by market observers, means the RAC will not be joining the London stock market in the near future. The IPO was reportedly expected to value the company at approximately £5 billion.