Aston Martin Plans To Go Public

Hoping to banish bankruptcy forever.

After going broke numerous times during its storied history, Aston Martin has decided to float itself on the London Stock Exchange in a move that could see the company valued at over $6 billion USD.

According to Reuters, the 105-year old company would be the first British automaker to list itself on the LSE after brands such as Jaguar, Bentley, and Rolls-Royce were sold to foreign interests. Aston’s IPO will follow in the wake of rival Ferrari’s floatation on the New York Stock Exchange back in 2015.

Last year was the first time Aston Martin has made a profit since 2010, but this is a company with seven bankruptcies to its name. The IPO would involve a flotation of at least 25 percent of the company stock which would feature shares broken off by main stakeholders Kuwaiti and the smaller Italian private equity firms. The brand has steadily been making strides towards this point since Andy Palmer took over the role as CEO.

Under his tutelage, the brand has secured an engine deal with Mercedes, resurrected the classic Lagonda name, created an insane hypercar with a Formula 1 team in the form of the Valkyrie and figured out how to extract huge sums of wealth from its long and storied history with handmade continuation models like the DB4.

The move is well along, the company has already filed a registration document with Britain's Financial Conduct Authority which is a requirement for firms considering an IPO. It’s expected the final decision will come down towards the end of September, with Aston hoping to complete the listing before the end of 2018.

Aston Martin Seeks $6.8 Billion Valuation Before Going Public

Anyone interested in buying a piece?

Ever since Ferrari filed for an initial public offering back in 2015, other premium sports car companies have considered doing something similar. Aston Martin is one of them, as we learned not long ago. Today, Bloomberg has provided on update on that. Reportedly, Aston Martin is seeking a valuation for as much as $6.8 billion for its own IPO. The company has been having “preliminary talks” with advisers regarding the valuation including debt. But why aim for this IPO now and not earlier?

Because investors are more interested in Aston Martin now thanks to new models, specifically the DB11 and Vantage, and upcoming new product like the DBX SUV. But perhaps what’s most important is that Aston Martin is now also profitable thanks to strong 2017 sales. The company broke the 5,000-unit mark for the first time in almost a decade. Despite the talk, Aston Martin supposedly has yet to make a final decision regarding the IPO. It’s not a done deal just yet. Not surprisingly, no-one at Aston Martin is even willing to discuss the matter. “As a matter of policy, Aston Martin does not comment about speculation concerning future ownership or capital restructuring,” said company spokesman Simon Sproule.

Ever since Bloomberg broke the IPO news, Aston Martin 2022 bonds have risen as much as 0.2% in London, clearly a good sign. A final decision will probably be made ahead of the UK’s break with the European Union in March 2019, the same year when the production-spec DBX SUV crossover is due to arrive.

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