Aston Martin

Luxury auto manufacturer Aston Martin just this Thursday stated of its plans to IPO at an aimed 5.07 billion pounds ($6.7 billion) valuation with its share price range set at between 17.50 pounds ($23.02) to 22.50 pounds ($29.60) for a public offering scheduled to take place next month.

Aston Martin expects to offer 25% of its shares to investors, nearly 57 million in number as it takes on an IPO. This stock market flotation on the London Stock Exchange is expected to take place on or around the 8th of October as per the company’s statement.

This will mark a notable IPO being the first for a British carmaker in decades marking a noteworthy era in Britain’s automobile industry.

Aston Martin has taking on a turnaround plan since 2014 when current CEO Andy Palmer took the leadership position at the company gearing it towards expansions and foray into new segments.

“Our Second Century Plan gives prospective investors deep insight into how we have executed our turnaround and how we are positioned for growth,” Andy Palmer stated.

As the IPO nears, Aston Martin has warned that impact of custom checks surrounding the Brexit situation could slow down production and drive up costs for the company. A Brexit agreement between London and Brussels is expected to be concluded by the end of this year.

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