Aston Martin To Execute IPO

The Wall Street Journal reports that Aston Martin will announce an IPO as early as August 29. It plans to raise as much as $1.5 billion on a $6.4 billion valuation through the offering of shares on the London Stock Exchange. Presumably, the costs of developing next-generation cars, including SUVs, and the challenges of electrification and autonomous technology, necessitate the fundraising effort. Aston Martin has annual sales of approximately 6300 cars and $1 billion, so it is a tiny player in the global pantheon of OEMs. It is about 2/3 the size of Ferrari, a company that is also more profitable. Part of the IPO cash will also be used to close that gap, with Aston aiming to sell 9700 units in 2020. 

Read what The Straits Times has to say on the matter.