The Aston Martin CEO, Andrew Palmer, announced plans that the company intends to go public before the end of this calendar year. The company plans to list on the LSE, the London Stock Exchange, and the CEO is pointing to the surge in sales volumes that have catapulted the brand back onto the scene.
The automaker has been able to recently complete its massive turnaround away from continued, and expected losses, throughout recent memory. The company filed its official documents with the LSE noting its intent and the estimated time that a prospectus will be published is around the late September time. When this deal goes through, the Aston Martin Company would become one of the rare auto makers to make the leap into the public markets.
The current over and under for the initial price point is being set at around $6 Billion dollars, which would again indicate a record level. The company operates out of the United Kingdom with its one plant and sell one quarter of its inventory to the European Union, however there are plans to increase capacity in the near term with the addition of a second production facility set to open towards the end of 2019.
The one lingering issue that’s on the minds of many is how will Brexit impact not only the Initial Public Offering, IPO, but also sales of the iconic British brand. At this time Palmer does not see any issues at all with the breakaway and he recons that if there are tariffs set on goods floating into the EU there will be counter tariffs on anything coming is, so his position is that the company may lose some volume in the new EU, but is confident that the domestic market increases will offset any negative impact that Brexit has. Its an interesting proposition for a company that’s made such huge gains in the last little while.