Storaksjonær varsler nedsalg i Autostore

Private equity firm Thomas H. Lee Advisors (THL) is planning to sell itself out of Autostore, the robot logistics company. According to a filing, THL could be selling around 103 million shares, representing about three percent of all Autostore shares. With the current stock price, the portion THL wants to sell is worth approximately 1.7 billion kroner.

The shares make up around 10.8 percent of THL's holdings. After the sale, THL will own about 853 million shares, or 24.9 percent of Autostore. ABG Sundal Collier and Citigroup are handling the sale through a bidding process among professional investors, which starts immediately on Tuesday afternoon. The price and final number of shares are expected to be announced publicly before the stock exchange opens on Wednesday, September 9th.

THL has also committed to not selling any more shares in the next 90 days, with a few exceptions, according to the filing. Autostore's stock has fallen significantly since the company went public, but the price has surged sharply from its lows and is up over 90 percent over the past year. The stock had a particularly large jump after the company delivered a strong earnings report in August.

THL has been invested in Autostore since 2019 and held half the shares prior to the company's listing on the stock exchange in 2021. Since then, THL has been selling off its holdings. Autostore's technology automates warehouse operations using robots to move goods around.