Aston Martin made it official on Wednesday, the company has alerted UK stock market regulators that it plans to list at least 25 percent of the company on the London stock exchange.
Continue Reading Below
The British sports car maker, known for its role in James Bond movies and luxury cars like the DB11, plans to launch a stock market listing in London later this year, according to Dow Jones Newswires.
The company did not comment on the pricing range or value of the IPO, but Sky News reported earlier that Aston Martin’s initial public offering (IPO) would value the automaker at roughly $6.4 billion.
The IPO would come three years after Fiat Chrysler Automobiles spun off Ferrari and listed the iconic Italian supercar builder on the New York Stock Exchange. Ferrari shares are up 14 percent over the past year.
More from FOX Business
Aston Martin reported an 8% increase in revenues in the six months to the end of June to 444.9 million pounds ($573.2 million) and a 14% increase in adjusted earnings before interest, tax, depreciation and amortization to GBP105.9 million. “This is a good basis upon which to make our IPO,” said Aston Martin CEO Andy Palmer, in an interview with The Wall Street Journal.
Aston Martin is owned mostly by investors in Kuwait and Italy.