Wednesday, 29 August 2018

Luxury carmaker Aston Martin to sell shares on the London stock market

Luxury carmaker Aston Martin says it may float on the London stock market, completing a turnaround that has seen the firm boost sales and profits.

The listing would be the first by a UK carmaker for years, following the sale of brands such as Jaguar, Bentley and Rolls-Royce to foreign owners.

Analysts say the firm, which also on Wednesday posted half-year profits of £42m, would be worth up to £5bn.

Its main shareholders are an Italian investment fund and Kuwaiti investors.

The 105-year-old carmaker said in its announcement that it would initially float a minimum of 25% of the company.
Chief executive Andy Palmer told the BBC that some shareholders would "cash out" their investment. He described the plans as a "key milestone" in the history of the company, and said a luxury brand like Aston Martin was "impervious" to any trading uncertainties caused by Brexit.

BBC      News.

No comments:

Post a Comment