Aston Martin, in August, became the first British car manufacturer in several decades to pursue an Initial Public Offering (IPO) after it announced its plan to float on the London Stock Exchange. Now, further details about the transition reveal that the company is seeking an evaluation of $6.7 billion from its public stock offering and has taken maximum precautions to reduce the impact of Brexit.
The British automaker has fixed 25 per cent of its shares at a price range of $23 to $30 per share.
The company stated that details about the final pricing will be released on or around October 3 and expects its stocks to be admitted to the London Stock Exchange on or around October 8.
The British automaker has fixed 25 per cent of its shares at a price range of $23 to $30 per share and is looking at a market capitalisation of between $5.3 and $6.7 billion.
Aston Martin has a substantial plan in place for what it likes to call its ‘Second Century”.
The British carmaker has a substantial plan in place for what it likes to call its ‘Second Century”. Under this plan, the firm will launch one new ‘core’ model every year until 2022. Models already headed to production include the DBX SUV and a new Lagonda saloon. Each model will have a seven-year life cycle before it is replaced. Ason Martin claims that it will produce between 6,200 and 6,400 cars in 2018 with up to 65% of them produced in the latter half of the year.