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Aston Martin preparing discounted customer share offering for Autumn float

Fri 22 June 2018 11:33 | A A A

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(Sharecast News) - Luxury car-maker Aston Martin intends to hand millions of pounds to wealthy customers through a London listing expected to value the company at up to £5bn, according to reports on Friday.

The Bond-associated firm is understood to be working on incorporating a customer share offer into an initial public share offering slated for autumn, with details of the company's future plans remaining to be finalised.

While London is expected to play host to the listing, the company's board and shareholders have researched New York as an alternative option.

A new employee share scheme will be unveiled alongside the company's keenly awaited flotation.

Aston Martin's shares are currently split between Italy's Investindustrial, Kuwaiti firm Investment Dar and the German car manufacturer Daimler, which owns Mercedes-Benz, holding a small stake.

Aston Martin registered weaker than expected first-quarter results in May, the company's profits being affected by a falling US dollar and increasing product development costs, but sources suggest that the company remains "on track".

Overall, however, the company has managed a financial turnaround after years of struggle with the full-year results reported by the company in April showing pre-tax profits at £87m after sales reached a record-high £876m.

Furthermore, the company displayed an intention to embrace the electric vehicle market, with each of its models to be developed with technology or full battery power by 2025.

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