Aston Martin planning to launch IPO in London

According to a media report, British carmaker Aston Martin is planning to launch an initial public offering (IPO) at the London stock exchange. The decision to go forward on this is expected to be taken on September 20, 2018.

The sports car maker was planning to file the appropriate registration document with the UK Financial Conduct Authority this week. The company will be using the services of financial adviser Lazard, while Deutsche Bank, Goldman Sachs and JP Morgan Securities will be arranging the sale along with Bank of America Corp., Credit Suisse Group, HSBC Holdings and UniCredit.

Aston Martin is reported to be targeting a valuation of GBP 5 billion. This is expected to allow the current shareholders to sell their shares at prices 10 times higher than the currently prevailing prices. The IPO date is expected to happen a few months before the UK leaves the European Union.

London-based Investindustrial Advisors Ltd. and Kuwaiti Investment Dar - owners of the controlling stake in the company have revealed that existing investors would sell at least 25 percent of the carmaker's stock on the London Stock Exchange. Daimler holds a 4.9 percent stake in Aston Martin.

Ferrari - Aston Martin's Italian rival made its debut on the trading floor in 2015 at the New York Stock Exchange.

Source: Bloomberg