Aston Martin to seek £5 billion valuation in potential IPO

LONDON: Aston Martin is targeting a valuation of as much as £5 billion ($6.8 billion) in a potential initial public offering of the British sports car maker, said people familiar with the matter.

The manufacturer has held preliminary talks with advisers about a valuation including debt that would put it on par with Ferrari NV, said the people, who asked not to be named. Investors’ interest in an IPO this year could be bolstered by the planned expansion into the lucrative sport-utility vehicle segment starting in 2019, they said.

An Aston Martin share sale in London later this year would cement the iconic brand’s comeback and mark a significant test of investor appetite for English companies ahead of the UK’s March 2019 break with the European Union.