EDF ignites stock market spark with plan for Pod Point float

EDF ignites stock market spark with plan for Pod Point float

EDF, the French state-backed energy giant, is drawing up secret plans for a stock market flotation of one of Britain's biggest providers of electric vehicle charging infrastructure amid soaring demand from motorists.Sky News has learnt that EDF, which bought a controlling stake in Pod Point less than a year ago, has instructed investment bankers at Barclays to begin working on the timing and structure of a public listing.

City sources said this weekend that an initial public offering (IPO) could value Pod Point at many hundreds of millions of pounds, crystallising a big paper fortune for Erik Fairbairn, the company's founder.EDF's plans are at an early stage, but underline the burgeoning interest in capitalising on the accelerating shift to electric cars, with the government now having established a 2030 target for banning the sale of new petrol and diesel vehicles, and 2035 for phasing out hybrids.Sources said that EDF