Monday, 5 March 2018

Aston Martin lines up bankers and chairman to steer £5bn float

Aston Martin is considering whether to snub the London stock market and pursue a listing in New York as it seeks to emulate Ferrari's soaring valuation since going public.
Sky News has learnt that James Bond's carmaker‎ is lining up pitches from investment banks to take place later this month as it accelerates towards a long-awaited initial public offering.
The company, which is jointly owned by Italian ‎and Kuwaiti shareholders, is also preparing to recruit an independent chairman in preparation for the flotation, insiders said on Monday.

Aston Martin, which reported a strong set of full-year results last week, provided the first formal indication that it is looking at "a range of strategic options for the future of the group, including the potential for an IPO".

London remains the frontrunner to secure an Aston Martin flotation, but New York is a serious contender, according to a source close to the company.

Aston Martin's shareholders and management have ‎been closely watching Ferrari's buoyant valuation since it listed in 2015, and are expected to explore with financial advisers the relative merits of a US IPO.

Aston Martins on sale in Cheshire

SKY       News.