Luxury sports-car maker Aston Martin on Wednesday unveiled plans for a stock-market listing that could value the maker of the famed car driven by James Bond at around $6 billion.
The British brand has notified financial regulators it is considering a listing on the London Stock Exchange and said it would publish full details for potential investors next month. Aston Martin plans to float at least 25% of the company, most of which would come from existing investors selling shares and wouldn’t raise much new money for the company.
The initial public offering, expected later this year, would consist of about £1 billion ($1.29 billion) or more of shares and value the company at about £5 billion, people familiar with the matter said.
The IPO plans come after a three-year restructuring effort led by Chief Executive Andy Palmer that has returned the storied brand to profitability and set it on course for expansion. Aston Martin reported an 8% rise in revenue for the six months to June 30 to £444.9 million, and a 14% increase in adjusted earnings before interest, tax, depreciation and amortization to £105.9 million.
Industry analysts welcomed the prospect of an Aston Martin IPO, noting a £5 billion valuation would be very pricey. At that level, the company would be valued at 20 times estimated 2019 earnings, said Arndt Ellinghorst, an analyst at Evercore ISI, a London-based brokerage.
An expanded version of this report appears on WSJ.com
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