Aston Martin is getting ready for an IPO


Aston Martin brings back the Superleggera

James Bond’s favorite carmaker is planning to go public.

Aston Martin said Wednesday that it’s aiming to list shares on the London Stock Exchange later this year, marking another milestone in the revival of the British brand.

The luxury car maker has been considering an initial public offering for some time. But the timing and location of the listing have remained under wraps.

The company said Wednesday that it still has to make a final decision on whether to go ahead with the London IPO. It plans to publish more detailed information on the listing around September 20.

Aston Martin’s cars have featured regularly in the movies about Bond, the fictional British secret service agent.

In going public, the company is betting that its growth story will help investors overcome fears over potential US tariffs on foreign autos and the disruption caused by Britain’s planned exit from the European Union.

The carmaker sold over 5,000 cars in 2017, its best performance in nine years. That yielded record revenue of £876 million ($1.1 billion), an increase of nearly 50% over the previous year.

See the best Aston Martin ever

Current investors include private equity firm Investindustrial and an investment house based in Kuwait. Daimler (DDAIF), the owner of Mercedes-Benz, has a small stake too.

Aston Martin has touted strong sales of the DB11 and special models. It also has plans for an SUV.

CNNMoney (London) First published August 29, 2018: 2:45 AM ET


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *