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Seven Days: 31 August 2018

Seven Days: 31 August 2018

Revving up for IPO

Aston Martin announced plans to list on the premium segment of the London Stock Exchange, as the luxury car maker – which has been bankrupt seven times – outlined plans to almost double annual production to 14,000 units in the medium term. The offer will be open to qualifying institutional investors following a secondary share sale by existing shareholders, although Germany’s Daimler AG will retain its 4.9 per cent non-voting stake. Management is also aiming to increase the adjusted cash profit margin to upwards of 30 per cent, from the 24 per cent reported for the first half of the year. The offer prospectus is due for publication on 20 September.

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