Luxury Car manufacturer Aston Martin is revving up to be listed on the London Stock Exchange and is looking forward to £5.07 billion in IPO valuation.
Aston Martin, known for producing the DB7 Vanquish that was made popular by James Bond Movies will be setting the price for its shares for around £17.50-£22.50 per ordinary share. The company is expecting to produce around £4b to £5b by selling a stake valued at least £1b.
Italian private equity fund Investindustrial and some Kuwaiti investors who are the company’s main shareholders had advised them on their options at the start of the year from a hired investment bank.
President and Chief Executive of Aston Martin, Andy Palmer said that the company is planning to widen their model lineup that includes the company’s first SUV model that will be produced next year. The company is anticipating these new models to increase Aston Martin’s sales.
He also added that one of his strategies is to target female buyers which the company is struggling to reach. The company has sold cars to lower than 4,000 women in its long history of 105 years of selling cars.
Mr. Andy also said that he does not want to leave Aston Martin’s Legacy where it is dependent on someone that provides funds just to save the company.
They said that the final announcement for its pricing will be released by October.