In 2021, the company will launch cars under the all-electric car division named the Aston Martin Lagonda.
Moneycontrol News
Popular British luxury carmaker Aston Martin will announce its plans to go public soon, a report has claimed.
The privately-held company will list its shares on the London Stock Exchange before the end of 2018, as per the Sky News report.
It plans to sell GBP 1 billion (USD 1.29 billion) in shares to take Aston Martin's value to £5 billion (USD 6.44 billion).
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Italy’s Investindustrial and a Kuwaiti investment fund called Investment Dar are the company’s main shareholders at present, along with Mercedes-Benz's parent company Daimler that holds a small stake.
After facing years of financial difficulties, the company reported its highest-ever sales last year, garnering a revenue of USD 1 billion with a profit of USD 244 million. It sold more than 5,100 cars in 2017, a 58 percent jump from 2016.
The IPO is said to further strengthen Aston Martin’s recovery.
The sales have been geared up with powerful models like the DB11 and the Vanquish which cost around USD 200,000 and USD 300,000 respectively. The limited edition Vanquish Zagato also helped power sales.
In 2021, the company will launch cars under the all-electric car division named the Aston Martin Lagonda.