Daily Management Review

Aston Martin applies for IPO


The British manufacturer of sports cars Aston Martin Holdings Ltd announced its intention to conduct an initial public offering on the London Stock Exchange (LSE).

As stated in the company's press release, the relevant documents have been sent to the Financial Conduct Authority (FCA).

Dow Jones writes with reference to informed sources, shares worth up to 1 billion pounds ($ 1.29 billion) can be sold in the course of the IPO, and the company itself can be valued at 5 billion pounds.

Also, the company reported on financial indicators for the first half of the year. Adjusted EBITDA of the automaker increased by 14% in January-June to 106 million pounds, revenue increased by 8%, to 445 million pounds.

Earlier it was reported that sales of Aston Martin in 2017 exceeded 5 thousand cars for the first time since 2008.

The company announced its intention to begin production of DBX off-road vehicles at a new facility in Wales by 2019, Aston Martin's entry into an attractive and new market segment for it can support investors' interest in the initial placement of shares, experts say.

Aston Martin was founded in 1913. The company gained fame as well due to the fact that its cars were driven by special agent James Bond.

In 1994-2007, Aston Martin was owned by Ford Motor Co., currently owned by a consortium of investors, including Kuwait's investment companies, as well as Italian InvestIndustrial.

source: dowjones.com