James Bond cult brand: Aston Martin reviews IPO

08/29/2018

James Bond cult brand Aston Martin reviews IPO

DPA

James Bond aka Daniel Craig gets out of an Aston Martin DB 10

British sports car maker Aston Martin wants to go public. A corresponding registration document as a condition for the Gang on the floor the automaker had submitted to the authority, Aston Martin said on Wednesday. By September 20, the company wants to decide whether the stock market plans will be pursued. Aston Martin is known mainly from the James Bond films.

The luxury car manufacturer founded in 1913 is planning a premium listing on the London Stock Exchange. After the sale of Jaguar, Bentley and Rolls-Royce Aston Martin would be after years again the first British carmaker on the London Stock Exchange.

The value of the sports car icon is estimated to be up to five billion pounds (5.5 billion euros) according to media reports. The company plans a free float of at least 25 percent through the sale of shares of the predominantly Kuwaiti and Italian investment companies.

Aston Martin for the first time again with profits

“Today we reach a milestone in our history,” said CEO Andy Palmer. The former Nissan manager came to the British in 2014 and rolled over the traditional sports car brand.

After six years of losses, Aston Martin made gains again in 2017 thanks to its new DB11 model. The cult car farmer was insolvent in his more than 100-year history seven times and belonged until 2007 to the US car manufacturer Ford.

The carmaker based in Gaydon, central England, is controlled by the Italian investment fund Investindustrial and Kuwaiti investors. The with 4.9 percent of Aston Martin participating Daimler group will remain a shareholder, said the British sports car maker.

mg / rtr, AFP, dpa-afx

To home page