Aston Martin thinks of IPO in London

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Aston Martin thinks of IPO in London

August 29, 2018 - 14:17
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James Bond’s favorite car may appear on the streets of London’s financial district, Bloomberg reports. Aston Martin Holdings (UK) Ltd., British producer of sport cars, considers IPO in London.

Photo © Michael Gaida, CC0 1.0

James Bond’s favorite car may appear on the streets of London’s financial district, Bloomberg reports.

Aston Martin Holdings (UK) Ltd., British producer of sport cars, considers IPO in London. This step will test investors’ optimism in automobile sector of the country that is planning to leave European Union.

First application will be filed to Financial Conduct Authority on Wednesday, while final decision might be taken by the company by September 20. Revenue of Aston Martin grew by 8% to 445 million pounds in first half. EBIDTA increased by 14%.

New CEO taking position in 2014 decided to focus on new models issuing, as well as on productivity increase that rose to the highest level since financial crisis of 2008.

The company is controlled by Investindustrial Advisors Ltd. and Kuwaiti Investment Dar. None of the investors is planning complete exit.

IPO is organized by Deutsche Bank AG, Goldman Sachs International and J.P. Morgan Securities Plc.