News / 'Success story' Gefco formally applies to launch IPO next year

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French logistics giant Gefco has applied to the Paris Euronext stock exchange to launch an initial public offering (IPO) next year.

The group, currently 75% controlled by Russian Railways and 25% by carmaker Peugeot (PSA), this morning delivered its Document de Base to France’s financial authority (AMF) for approval for the IPO.

It said that Russian Railways was looking to reduce its stake to below 50%, while Peugeot was likely to own less than 10% after the French automotive manufacturer decided that ...