London Stock Exchange welcomes Pod Point to the Main Market

Today, London Stock Exchange welcomes Pod Point Group Holdings plc, one of the UK’s leading providers of electric vehicle (EV) charging solutions, to the premium segment of the Main Market of London Stock Exchange segment under the ticker symbol “PODP”.

Founded in 2009 by CEO Erik Fairbairn with a mission to make travel which does not damage the earth, Pod Point develops, installs and operates charge points for all applications across all routes to market in the EV charging ecosystem: home, workplace, destination and en-route. Pod Point is the leading provider of home charge points in the United Kingdom, with multiple agreements with major automotive OEMs and its web-based retail platform. It also has a strong presence in the other routes to market, including a national roll-out of destination charge points at Tesco stores, in partnership with Tesco and Volkswagen.

Pod Point believes that there are significant opportunities ahead for the company. Only a single digit percentage of cars in the UK are fully electric, yet sales of new internal combustion engine vehicles will end in the UK in 2030, with only zero emission vehicles – mainly EVs – on sale from 2035. Charging infrastructure will need to keep pace with this uptake rate, and Pod Point believes it needs to stay slightly ahead of demand to give drivers the confidence to switch to electric motoring.

Pod Point will use the proceeds of its initial public offering to support its growth plans, including through investment in DC rapid owned assets and multi tenancy dwelling installations, product and software development, as well as to provide balance sheet strength, financial flexibility and for general corporate purposes.

Quick facts

Market: Main Market
Instrument market cap (£m)
Listing/Admission to trading
04 Nov 2021

Erik Fairbairn, CEO and Founder of Pod Point, said:

“Becoming a public company is very exciting! It represents a massive step forward for us, providing validation of our vision and the wonderful work the team have done so far. We look forward to accelerating our already impressive progress as we continue to work on our mission to make travel which does not damage the earth.”

As at admission (based on the Offer price of 225p per ordinary share), Pod Point has a market capitalisation of £352m. 

Pod Point’s board of directors includes chair Gareth Davies (non-executive chairman of M&C Saatchi plc) and automotive legend Andy Palmer (ex-Aston Martin CEO, ex-Nissan COO) as senior non-executive director.

Advisers to the company:

  • Sponsor, Joint Global Co-ordinator, Joint Bookrunner and Financial Adviser: Barclays Bank PLC
  • Joint Global Co-ordinator and Joint Bookrunner: Merrill Lynch International
  • Joint Bookrunner: Numis Securities Limited
  • Legal advisers to Pod Point: Freshfields Bruckhaus Deringer
  • Legal advisers to the Joint Bookrunners: Clifford Chance
  • Public relations adviser to Pod Point: Tulchan Communications
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