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Auto Trader, the largest online used car classifieds website in the UK, has announced its intention to float on the London stock exchange.
It is expected its admission to the stock market will go through in March and commentators expect the company to be valued close to £2 billion.
Auto Trader holds a strong position in the used car market, with 80% of UK car dealers advertising used stock on the website.
It is expected that Auto Trader will be listed in the FTSE 250 following its admission next month.
Trevor Mather, Auto Trader chief executive, said: "Auto Trader is known across the UK & Ireland as the digital marketplace for buying and selling vehicles and we work hard every day to balance the needs of the vehicle retailers, helping them sell more vehicles and make more money, and the general public, helping ease the process of what should be an exciting moment in their lives - buying their next vehicle.
I feel truly privileged to lead this business and I am very proud of our employees who have built an incredibly strong and trusted brand together with a hard working and innovative digital culture.
"I am both confident and hugely enthusiastic about our future, as we embark on the next stage of our growth as a public company."
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