THURSDAY, March 28, 2024
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007 carmaker Aston Martin announces stock market float

007 carmaker Aston Martin announces stock market float

Aston Martin, the British luxury car brand favoured by fictional spy James Bond, announced on Wednesday plans to list a quarter of its shares on the London stock market.

Full details of the initial public offering will be published on September 20, Aston Martin said in a statement, with reports noting that the company could be valued up to £5.0 billion ($6.4 billion, 5.5 billion euros).

"Today's announcement represents a key milestone in the history of the company, which is reporting strong financial results and increased global demand for its award-winning sports cars," Aston Martin chief executive Andy Palmer said in the statement.

The century-old carmaker, based in Gaydon in central England, is controlled by Italian private equity fund Investindustrial and Kuwaiti investors.

German carmaker Daimler will meanwhile keep its near 5.0-percent stake in the group, Aston Martin said.

Founded in London in 1913, Aston Martin rose to fame thanks largely to its DB5 sports car, a favourite of early Bond actor Sean Connery.

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