D’Ieteren Group shares advanced after reports its subsidiary Belron is exploring a potential €24 billion IPO. The world’s largest windscreen repair group, which operates Autoglass and Safelite, has begun preliminary banker meetings. A listing could materialize later this year, pending market conditions.

Belron’s current enterprise value is estimated at €32 billion, including €8 billion in debt. This figure exceeds some analyst projections, such as Kepler Cheuvreux’s €28.5 billion valuation. The company recently repriced its term loans, signaling strong financial performance and reducing its cost of capital.

No decision has been made on the listing venue, with both New York and Amsterdam under consideration. Given that Safelite contributes approximately 55% of sales, a U.S. listing appears logical, though a dual listing remains possible. D’Ieteren holds a 50.3% stake in Belron.