Aston Martin set to list on London Stock Exchange
Aston Martin is set to list shares for sale on the stock exchange in the coming weeks, as financial results are reported.
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"
RELATED ARTICLES
Automobili Lamborghini launches new corporate look after two decades
This evolution is part of the broad transformation process denoted Direzione Cor Tauri, the strategy that embodies Lambo...
NXP launches integrated platform to simplify SDV development, cut costs
Open S32 CoreRide platform combines processing, vehicle networking and system power management with integrated software ...
Yamaha partners Lola Cars to develop and supply powertrains for Formula E
Japanese automaker aims to acquire cutting-edge electric technology in the premier EV race series. This multi-year partn...