Aston Martin listed on London Stock Exchange for £19 per share
The much-anticipated public flotation started this morning on the London Stock Exchange, valuing the company at £4.33 billion
Aston Martin floated on the London Stock Exchange at 8:00 [BST] this morning at a price of £19 per share, giving the British manufacturer, which can now be seen on stock exchange listings as 'AML', a brand value of £4.33 billion ($5,607,350,000).
A total of 57,000,723 shares will be sold, equating to a quarter of the company, approximately £1.08 billion. The £19 sits in the middle of the £17.50 to £22.50 guideline the company initially gave for what the shares would be offered for.
Aston Martin's 2018 so far...
- DP215 sells for $21.5-million in Monterey!
- New 221mph DBS Superleggerais revealed!
- Classic Aston Martins in our classifieds
Current Aston Martin Lagonda shareholders could also make a further 5,700,072 shares in the case of an over-allotment option, which would result in a total share issue worth £1.19bn (27.5% of the company). Aston will be eligible for inclusion in the FTSE 100 index (for the companies listed on the London Stock Exchange with the highest valuation), but the £19 share value means it will likely fall just short of entering that index initially.
Aston Martin can be buoyed by positive financial results of late, as well as an increasing customer base and production line-up. In August, it was revealed that the company had a 14% increase in revenue in a single half-year, bringing total revenue up to just short of £450 million. Pre-tax profit also rose by £700,000. Under current figures, it could soon be heading towards the FTSE 100, the LSE's share index of the 100 biggest companies trading. It's an incredible turnaround considering 2017 was the first time in seven years that the company had recorded a profit.
All of this is boosted by increasing sales, as well as exciting projects such as the Adrian Newey-designed Valkyrie and the continuation range which makes classics such as the DB4 Zagato and iconic DB5 James Bond car. Beyond that, the brand plans to launch a new model every year until 2022, including an expansion into SUVs and a rekindled Lagonda.
Some of the company's current shareholders, as well as UK-based employees, customers and owners club members, will get preferential offers on shares, or in the case of Daimler, be able to retain its 4.9% stake for another year. Investindustrial's sizeable 37.5% stake will also be inaccessible for half a year. Aston Martin follows in the footsteps of rival Ferrari, which publicly floated in 2015. Other sports car brands including McLaren have shown an interest in doing the same.
When Aston Martin launched its stock market flotation to the public, company CEO Andy Palmer said that the rise from near bankrupcy to its highly anticipated flotation showed 'that we have continued to deliver sustainable growth, margins and value for our shareholders whilst launching three new models and variants in the first half of the year.'
Classic Cars for Sale
This example is a 2007 Aston Martin DB9 Volante, that is described by the vendor as an exceptionally good example of this iconic car, that drives and runs superbly. The car comes with full service history, which is proof of the low mileage of 37,800 miles. The sumptuous black leather interior is piped in red, which just adds to the overall feeling of luxury and power. The car is equipped with red
Presented in dark silver metallic with black leather interior, this is an outstanding example of a "face lift" Aston Martin V8 Vantage Manual, which has a total Aston Martin Service History from new. Only 3 previous keepers, a rare manual, with that "je ne sais quoi" that only Aston Martins have.
A unique 1968 Aston Martin DB6 MK I Vantage coupe, originally supplied in Sunderland, Durham on the 2nd December1968. The then owner had this late MKI fitted out with MK II Wheel arches and wider rims. It has factory-fitted wire wheels, the famous Vantage engine, ZF 5-speed gearbox, rear window heating and a limited slip differential. Thanks to continuing perfect care this car remains in excellent
We have a delectable and authentic series II 1960 LHD Aston Martin DB4 for you. The car has oodles of provenance. There are documents going back to the start, even correspondence to and from Aston Martin dating from 1965. This is one of only 45 factory-built LHD DB4`s ever! The ownership history starts on the 31st March 1960 when Mr B.L. Smalley of Chicago receives the car from the well-known New