Aston Martin plans to go public on London Stock Exchange

Aston Martin London Stock Exchange flotation intent confirmed

Aston Martin sets out plans to float on London Stock Exchange

In an interview with BBC following Wednesday's announcement, Palmer said Aston Martin is "a luxury company" but "not just a auto company".

There is more to come, with the Gaydon-based carmaker's Second Century plan seeing one new "core" model launched every year until 2022 - such as the DBX SUV and an all-new Lagonda saloon.

Luxury British sports auto manufacturer Aston Martin announced plans Wednesday for listing on the London Stock Exchange.

In Aston Martin's 105-year history, the company, which sells coveted brands like Jaguar, Bentley and Rolls-Royce worldwide, has filed for bankruptcy seven times.

Aston Martin is now an investor consortium featuring David Richards, chairman of British race auto manufacturer Prodrive, an Italian investment fund and two Kuwaiti companies.

"The benefit of being a luxury company is that we are relatively impervious to those kinds of changes", he told BBC radio.

Roughly a quarter of Aston Martin's current output is sold in the EU.

However, he noted that as a precaution, the group was increasing stockpiles of its engines in case of possible border delays once Britain exits the European Union in March next year.

But before its recent reporting periods showing signs of growth, Aston Martin had been crippled by persistent losses for decades.

A staff member from the Bonhams auction house in London poses with the 1965 Aston Martin DB5 that actor Pierce Brosnan drove in his role as James Bond in the 1995 movie GoldenEye. Revenue increased by 8 percent, and profit increased 14 percent, in the first half of 2018, it said.

Why now? Well, it certainly helps that last year the firm made its first profit since 2010, and expects to do even better this year (driven, in part, by sales of special edition models like the Vanquish Zagato and DB4 GT Continuation cars, according to the announcement). Since launching the Second Century Plan in 2015, Aston Martin Lagonda has been transformed into a luxury business focused on creating the world's most handsome high-performance cars.

Earlier this year, a limited-edition midnight blue Vanquish owned by James Bond actor Daniel Craig's sold at auction for United States dollars 468,500.

Going public worked extremely well for Ferrari not so long ago, with the company's value doubling in less than a year following a New York Stock Exchange flotation.

The group said it is looking to make nearly 10,000 units in 2020.

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