The Aston Martin IPO is happening sooner rather than later as one of the most historic automotive companies will be selling shares to the public for the first time.
Here are eight things
that investors should know about the British carmaker’s initial public offering::
- The company said on Wednesday that it will sell shares to the public with the hopes of bringing in wealthy buyers as it expands its fleet to include more sedans, sports utility vehicles.
- The Aston Martin IPO will see the company sell at least 25% of its shares, although it is unclear if the move is happening for certain.
- Minority investor Daimler, which makes Mercedes-Benz automobiles, is expected to hold on to the company’s 4.9% stake.
- The carmaker would be listing its shares on the London Stock Exchange if it goes through with the offering, with details of the move to be published around Sept. 20.
- Aston Martin and its subsidiaries said on Wednesday that its first half of 2018 yielded pretax earnings of $137 million and revenue of $573 million, marking a 14% year-over-year growth in earnings and an 8% surge in revenue.
- The company is seeking a valuation of around $6.5 billion.
- CEO Andy Palmer said that the possible Aston Martin IPO “represents a key milestone in the history of the company.”
- The final decision on whether or not the Aston Martin IPO happens will be made next month.
