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Aston Martin valued at £1.27-billion in IPO pricing

2018-09-20 12:11

Image: AFP / Gabriel Bouys

Aston Martin Lagonda, the maker of James Bond's favorite sports car, plans to raise as much as £1.27-billion when it sells shares to investors for the first time.

The luxury automaker says it will sell a 25% stake for between £17.50 and £22.50 a share, valuing the company at as much as £5.07-billion. Aston Martin said Thursday the exact price would be set around Octpber 3.

The company says Daimler will remain a shareholder and won't reduce its 4.9% stake for 12 months.

Aston Martin CEO Andy Palmer says the share sale "will provide investors with a fitting opportunity to participate in our future success."

The carmaker was founded in London in 1913 and is headquartered in Gaydon.

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