Aston Martin revving up for £5b IPO in October

The British luxury carmaker, famed for making the sports car driven by James Bond, is the first British carmaker to pursue an IPO for decades.
Aston Martin said last month it was pursuing an initial public offering, the first British carmaker to do so for decades.
Aston Martin said last month it was pursuing an initial public offering, the first British carmaker to do so for decades.PHOTO: REUTERS

LONDON (REUTERS) - Luxury British carmaker Aston Martin said on Thursday (Sept 20) it was seeking a valuation of up to £5.07 billion (S$9.12 billion) as it set a price range of £17.50 to £22.50 per share for its stock market flotation.

The company, famed for making the sports car driven by fictional secret agent James Bond, said last month it was pursuing an initial public offering (IPO), the first British carmaker to do so for decades.

The automaker will publish a prospectus later on Thursday and hopes to announce its final pricing on or around Oct 3. It expects its shares to be admitted to the London Stock Exchange on or around Oct 8.

The firm is expecting 25 per cent of its stock to be floated, nearly 57 million shares.