Luxury motor company Aston Martin considers a £1bn IPO
LUXURY carmaker Aston Martin is considering a joint venture with another manufacturer or an initial public offering (IPO) to boost its brand’s range and and technology.
Chairman David Richards said over the weekend he thought the firm would be valued at over £1bn for the purposes of an IPO.
A second alternative would be a tie-up between the Warwickshire-based company and another carmaker, he said.
The company is majority owned by the Kuwaiti sovereign wealth fund Investment Dar, which bought it for £503m from Ford in 2007.
Richards said new investment was not imperative, but was aimed at long-term growth, increasing its number of models from the current tally of six, and new technology.