Aston Martin plans to go public, valued at RM27 billion

Aston Martin plans to go public, valued at RM27 billion

Aston Martin has revealed that it plans to be listed on the London Stock Exchange, with sources telling Reuters that the initial public offering (IPO) could be valued at up to £5 billion (RM26.9 billion). This is after the 105-year old British firm, famous for making iconic vehicles for James Bond, revamped its model line-up and increased production.

If it does go public, the firm would become the first British carmaker to go public in London for years, following the sale of Jaguar and Land Rover to Tata Motors in 2008. It had, in prior years, gone bankrupt seven times, and in 2017, slipped out of the reds for the first time since 2010. According to the automaker, the IPO would involve a sale of shares by its main owners – Kuwaiti and Italian private equity groups – with at least 25% of the company’s stock to be floated.

The automaker said it had filed a registration document with Britain’s Financial Conduct Authority, a requirement for firms considering an IPO. It hopes to complete the flotation this year, and tap into global demand from wealthy buyers who want a slice of the luxury sports car brand. In terms of sales, roughly 25% of Aston Martin vehicles is sold in the European Union, with production taking place at its sole plant in Gaydon. A second plant in Wales is scheduled for opening in 2019.

Following in the footsteps of Ferrari, Aston Martin plans to appeal to investors by using its exclusivity. It has since licensed its name for use on apartment blocks and even a submarine. When Andy Palmer joined in 2014, shareholders injected £200 million (RM1.075 billion) as part of an aggressive plan to update its model line-up, produce new lower emissions vehicles and make its first SUV, which is due next year. It plans to sell close to 10,000 units of cars in 2020.

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Matthew H Tong

An ardent believer that fun cars need not be fast and fast cars may not always be fun. Matt advocates the purity and simplicity of manually swapping cogs while coping in silence of its impending doom. Matt's not hot. Never hot.

 

Comments

  • amanwithvision on Aug 30, 2018 at 8:33 pm

    27 million?
    i dont know which idiot will buy a car that equal to 10 lamborghini.

    Like or Dislike: Thumb up 0 Thumb down 7
    • John May 9 Nangis on Sep 01, 2018 at 3:04 pm

      Just a few years ago, Aston Martin was in bankruptcy. Today worth RM27 billion.

      49.9 % of Proton worth RM170 million. So, whole company only worth RM340 million.

      Did we get cheated? Or our PRoton management just too incomepetent?

      Like or Dislike: Thumb up 0 Thumb down 3
    • Why bother on Sep 01, 2018 at 4:13 pm

      Share brother, not car…

      Like or Dislike: Thumb up 1 Thumb down 0
    • Replying An Idiot on Sep 01, 2018 at 6:03 pm

      Dude,
      They were talking about IPO of 27 billion. Do you got any idea what are you reading and shitting?

      Like or Dislike: Thumb up 1 Thumb down 0
  • autoist on Aug 31, 2018 at 1:46 am

    Errrr….You’ve probably mixed up Bentley(VW) with Land Rover being sold to Tata

    Like or Dislike: Thumb up 0 Thumb down 0
  • It’ll probably end up being China owned…

    Like or Dislike: Thumb up 0 Thumb down 0
 

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