Singapore's Carro eyes M&A, Australia foray ahead of potential dual listing

Core Viewpoint - Carro, Southeast Asia's largest used-car online marketplace, is considering a dual listing and plans to expand into Australia while pursuing acquisitions to strengthen its position ahead of a potential U.S. IPO valued at over $3 billion [1][2]. Company Expansion Plans - Carro aims to enter the Australian market, offering its full suite of services [5]. - The company plans to acquire two to three companies in the next quarter to bolster its operations [6]. Financial Strategy and IPO Plans - The timing of the IPO will depend on Carro meeting its near-term financial targets, with a focus on achieving $120-$150 million in EBITDA next year [4][3]. - Carro has not yet appointed financial advisers for the IPO but is in discussions with banks such as HSBC and UBS [3]. Technological Advancements - Carro is leveraging artificial intelligence (AI) across various functions, which has led to a reduction of 20%-30% in overall tech costs [6][7].