Aston Martin set to list on London Stock Exchange

by Lawrence Allan, Autocar UK 29 Aug 2018

Aston Martin president and CEO Dr Andy Palmer.

After rumours began circling last year, Aston Martin has confirmed it intends to float the company on the London Stock Exchange within the next few weeks.

The formal launch of the firm’s initial public offering (IPO) will see up to £1 billion (Rs 9,068 crore) crore) of shares in Aston offered for sale. The firm has today submitted a Registration Document with the British Financial Conduct Authority, with a prospectus due to be published on or around September 20.  

Aston Martin also published its half-year financial results, showing a 14% rise in revenue to just under £450 million (Rs 4,080 crore), with pre-tax profits rising from £20.1m to £20.8m (Rs 188 crore) . The initial public offering is expected to see the company valued at up to £5 billion (Rs 45,343 crore), with 25% of its shares offered in the listing. 

The British supercar maker is currently owned by Italian and Kuwaiti shareholders, with other minority investors. Investindustrial took a 37.5% stake in Aston Martin in 2012, with Daimler also owning a 5% share. With interest globally, there was debate about whether the company should float its shares in London or New York.

The decision to float Aston has been long been mooted as sales continue to grow, with new products such as the DB11 and Vantage  ensuring the company’s financial outlook is strong. 

There is more to come, with a number of new products – such as the DBX SUV and an all-new Lagonda sedan – due to hit the market in the next few years. 

Rival carmaker Ferrari had great success with its stock market flotation in 2015, doubling the company’s value to around £15 billion in a little under a year. McLaren has also considered a stock market entry in a bid to further boost investment. 

Also read: Aston Martin to step up sourcing from India

Aston Martin's e-Lagonda to challenge Rolls-Royce and Bentley "duopoly"

magazine image

Latest Auto industry updates and news articles