Aston Martin has £5bn valuation in its sights
Luxury carmaker Aston Martin is aiming for a £5 billion valuation when its shares begin trading on the London Stock Exchange next month.
The firm, best known for being James Bond’s vehicle of choice, has set a price range for its London listing of between £17.50 and £22.50 per ordinary share. It means the carmaker will have a market capitalisation of between £4.02bn and £5.07bn.
Final pricing of the initial public offering (IPO) is expected to be announced on or around 3 October, when shares are set to start conditional trading on the London Stock Exchange. Unconditional trading will begin around 8 October.
Aston Martin confirmed it was offering to float around 57 million shares, representing 25 per cent of the business. Daimler AG of Germany will remain a stakeholder. The IPO is being targeted at institutional investors as well as Aston Martin employees, customers and its Owners Club members in the UK.