Kuwait-backed Aston Martin eyes London stock market listing

Aston Martin, the British luxury car brand favoured by James Bond, plans to list a quarter of its shares on the London stock market
Kuwait-backed Aston Martin eyes London stock market listing
By AFP
Wed 29 Aug 2018 02:03 PM

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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