Jose Altoveros / Aston Martin | September 03, 2018 06:23
Aston Martin plans to go public, valued at Php 343 billion
Following in the footsteps of Ferrari, British automaker Aston Martin will soon be going public as well. The British marque has already confirmed that they will soon be listed on the London Stock Exchange with an expected value of around 5 billion pounds (Php 342 billion). Once the firm goes public, it will be the first British automaker to go public in years following the sale of Jaguar and Land Rover back in 2008.
Aston Martin is said to have already submitted the needed documents to Britain’s Financial Conduct Authority in order for it to have an initial public offering (IPO). The IPO will see around Aston Martin’s shares offered to numerous members of the public from all over the world allowing them to buy a slice of the 105-year old British marque. The flotation is expected to be complete by the end of the year with final details regarding the IPO to be published on September 20.
Sales wise, the company has not always been in the greens. Aston Martin had previously been through numerous bankruptcies. It is only recently, under the leadership of Dr. Andy Palmer, did the company experience numerous growth. More so, proceeds from the IPO would help the British marque further their model line-up which already consists of the DBS Superleggera, DB11 and Vantage.
In the future, Aston Martin is further expected to experience more growth and follow in the footsteps of Ferrari. With a new plant expected to rise in 2019 and the launch of the DBX, Aston Martin’s first SUV, the British brand could further increase revenue by the end of the year. They also plan to sell 10,000 vehicles by 2020.
With Aston Martin holding an IPO soon, would you be buying a slice of the British marque’s shares?