Aston Martin to unveil plans for £5bn float on London Stock Exchange, report says

Brand synonymous with James Bond reportedly appointed advisers to oversee an IPO earlier this year

Caitlin Morrison@citycait
Tuesday 28 August 2018 16:12
New 007 Car Is Aston Martin s Ninth Appearance in Bond Franchise

Aston Martin will lay out its plans for a £5bn float on the stock market on Wednesday morning, according to a report by Sky News.

The luxury car maker is set to reveal details of a planned listing on the London Stock Exchange alongside its interim results.

The company is expected to seek a valuation of £5bn and will sell approximately £1bn worth of shares when it floats.

Sky also reported that the group will deliver “healthy” interim results. Aston Martin declined to comment.

The report comes after months of speculation that the firm is gearing up to go public - in January, sources told Bloomberg that the motor manufacturer was in talks with advisers.

The group was founded in 1913 and has become one of the UK’s most well-known brands, through its links with the James Bond franchise - Bond's Aston Martin DB5 was voted the greatest movie car ever in a recent poll.

The firm has branched out from luxury motors in recent years, and earlier this month revealed plans to create a luxury aircraft.

Meanwhile, last year the company broke ground on a luxury property development in Miami.

The group is also planning to enter Formula 1, and this year became the Red Bull title sponsor.

Aston Martin president and chief executive officer, Andy Palmer, said that moving into Formula One was a possible future venture for the sportscar makers, although he stressed that the “right environment” would need to be created that would prevent costs from spiralling out of control.

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