Aston Martin plans to go public.

29th August 2018

Aston Martin plans to float on the London Stock Exchange, completing a turnaround for the once perennially loss-making company that could now be valued at up to £5 billion ($6.4 billion).

The 105-year old firm, famed for making the sports car driven by fictional secret agent James Bond, would become the first British carmaker to list in London for years, following the sale of brands such as Jaguar and Bentley to foreign owners.

The initial public offering (IPO), which follows Italian rival Ferrari's New York flotation in 2015, could see Aston valued at up to £5 billion, sources have told Reuters, after it expanded its model line-up and production.

The firm, which last year made its first profit since 2010 and has gone bankrupt seven times in its history, said on Wednesday the IPO would involve a sale of shares by its main owners, Kuwaiti and Italian private equity groups, with at least 25 percent of the stock to be floated.

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