According to the financial company, Bloomberg, Aston Martin is planning an IPO similar to that of Ferrari. The rumour is that they are waiting for their 2017 financial results to be published before announcing the floatation on the London stock exchange.
Aston Martin, now 100 years old, is expected to have a value in the region of £2.3 Billion. The rumour is said to be a toe dipping exercise to see if a floatation will come in on budget and be in line with the companies 7-year growth plan.
When asked for comment, Aston Martin spokesman Simon Sproule said the company is “100 percent focused on the delivery of our seven-year business plan” and noted, “matters pertaining to the future structure or ownership of the company are a matter for our shareholders.”
To fund its expansion, Aston issued 550 million pounds in bonds in March to replace existing debt maturing in 2018. Of the new debt, 230 million-pound in bonds due April 2022 gained 1 penny on the pound to 105 pence on Friday, the highest since they were priced in March, according to data compiled by Bloomberg.
Aston Martin is on target with their growth plan, with the opening of a new plant in wales, which will be producing its DBX range. Analysts say that Aston Martin is also on target with sales in 2017 expected to hit the £165 million, which is up from the £101 million in 2016.
Aston Martin has been considering an IPO for a while and former CEO Ulrich Bez suggested it would be a natural way for the company’s investors – which include Adeem Investment, Investment Dar, and Investindustrial – to cash out