Few days ago, we broke the news regarding Chinese startup NIO’s IPO at New York Stock Exchange. Now, it is reported that Aston Martin is following the same path but it will be doing business on London Stock Exchange. Sky News reports that it is just few days away and the British luxury automaker will disclose their plan in coming days. The announcement will be done along with interim financial and sales results. IPO from Aston Martin is set to involve sale of around 1 billion pounds ($1.29 billion) of shares in the company, majority of which are from existing customers.
Trading of these shares will commence by the end of this year. Owners of Aston Martins will look valuation in between 4 and 5 billion pounds ($5.15 billion to $6.44 billion). IPO will also include exclusive offering of stock to Aston Martin customers and an employee share scheme. Apart from it, new chairman and other board members are also being recruited. Aston Martin has been working on Initial Public Offering for quite some time now and they might announce stock offering for the New York Stock Exchange before this year closes.
This year has been hectic for Aston Martin as they were busy with launch of several new vehicles. Few honorary mentions are Vantage and DBS Superleggera. At the Geneva Motor Show, they also revealed that they are bringing back Lagonda brand and steadily moving towards the launch of an all-electric Rapide. They are also making progress on the upcoming DBX crossover. Andy Palmer gave a new direction to Aston Martin as under his new leadership noticeable landmarks has been achieved. 2017 stood out as highest sales in their history.