PARIS (Reuters) -Renault shares rose as much as 4.5% in early session trade on Tuesday after the company ditched plans to list its electric vehicle business Ampere because of sluggish stock market conditions.
Renault on Tuesday said it had enough cash to do without the stockmarket listing and would continue to fund the development of Ampere until it reaches break-even in 2025.
“Cancellation of the Ampere IPO should be positive for current shareholders as it minimises upfront dilution ..and removes a layer of complexity in the investment case,@ Jeffereis analysts said in a note.
Shares were up 1.24% at 0817 GMT.
(Reporting by Tassilo Hummel, Editing by Dominique Vidalon)
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