Aston Martin confirms stock market IPO

Flotation is expected this autumn, valuing the British sports car firm at up to £5 billion

Aston Martin CEO Dr Andy PalmerAston Martin has confirmed its intention to launch an initial public offering (IPO) on the London Stock Exchange.

News of its intention to float comes as the British sports car firm announces an 8 percent rise in revenues and a 14 percent increase in profit.

Aston Martin to reveal £5 billion IPO stock market float

“Today’s announcement represents a key milestone in the history of the company,” said Dr. Andy Palmer, president and CEO of Aston Martin Lagonda (pictured above).

Aston Martin DB4 GT Continuation

Aston Martin, he said, has “the resources and balance sheet strength to continue delivering on our growth strategy. Today’s results show we have continued to deliver sustainable growth, margins and value for our shareholders”.

It’s the perfect time to announce plans for an IPO, believes the firm.

Dr. Palmer’s business strategy is called the Second Century plan. Since launching it in 2015, the firm “has been transformed into a luxury business focused on creating the world’s most beautiful high-performance cars.

“Our strategy is being implemented by an experienced management team that launched breakthrough new models, increased our brand value and built important partnerships in the luxury sector.”

Medium-term plans include boosting the company’s profit margin to more than 20 percent.

Aston Martin DBS Superleggera

The potential Aston Martin IPO will offer eligible employees and customers the opportunity to buy shares at the offer price. Daimler AG, which currently holds a stake of 4.9 percent in the firm, will remain as a shareholder.

Around 25 percent of the company is expected to float – and it’s predicted the company could be valued at up to £5 billion.

A full prospectus will be published on 20 September.

 

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Richard Aucock
Richard Aucockhttps://www.richardaucock.co.uk/
Richard is director at Motoring Research. He has been with us since 2001, and has been a motoring journalist even longer. He won the IMCO Motoring Writer of the Future Award in 1996 and the acclaimed Sir William Lyons Award in 1998. Both awards are run by the Guild of Motoring Writers and Richard is currently vice chair of the world's largest organisation for automotive media professionals. Richard is also a juror and Steering Committee director for World Car Awards and the UK juror for the AUTOBEST awards.

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