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Aston Martin The move is well along, the company has already filed a registration document with Britain's Financial Conduct Authority which is a requirement for firms considering an IPO. It's expected the final decision will come down towards the end of September, with Aston hoping to complete the listing before the end of 2018.
Aston Martin Aston Martin Aston Martin Handout, Aston Martin
Aston Martin Plans To Go Public
Sep. 02, 2018 6:05 AM ET by Michael Accardi / 1 Comment Hoping to banish bankruptcy forever. After going broke numerous times during its storied history, Aston Martin has decided to float itself on the London Stock Exchange in a move that could see the company valued at over $6 billion USD. According to Reuters, the 105-year old company would be the first British automaker to list itself on the LSE after brands such as Jaguar, Bentley, and Rolls-Royce were sold to foreign interests. Aston's IPO will follow in the wake of rival Ferrari's floatation on the New York Stock Exchange back in 2015. Aston Martin Last year was the first time Aston Martin has made a profit since 2010, but this is a company with seven bankruptcies to its name. The IPO would involve a flotation of at least 25 percent of the company stock which would feature shares broken off by main stakeholders Kuwaiti and the smaller Italian private equity firms. The brand has steadily been making strides towards this point since Andy Palmer took over the role as CEO. Under his tutelage, the brand has secured an engine deal with Mercedes, resurrected the classic Lagonda name, created an insane hypercar with a Formula 1 team in the form of the Valkyrie and figured out how to extract huge sums of wealth from its long and storied history with handmade continuation models like the DB4.Aston Martin The move is well along, the company has already filed a registration document with Britain's Financial Conduct Authority which is a requirement for firms considering an IPO. It's expected the final decision will come down towards the end of September, with Aston hoping to complete the listing before the end of 2018.
Aston Martin Aston Martin Aston Martin Handout, Aston Martin