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Aston Martin is anticipated to submit a request for an initial public offering (IPO) in London later this year, potentially valuing the luxury car manufacturer at approximately $6.8 billion, as reported by Bloomberg News, which cited unnamed sources.
Famous for its association with James Bond, the company has reportedly enlisted the help of investment bank Lazard, possibly to prepare for an IPO in the latter part of the year, as indicated by Reuters last month, also based on anonymous sources.
In 2017, Aston Martin achieved record sales, surpassing 5,000 vehicles, but it has not been without its challenges. The automaker had to recall 5,000 cars produced between 2009 and 2016, as previously mentioned by The Drive. Rumors regarding an IPO have circulated since as early as May 2017, according to Bloomberg.
Despite these hurdles, Aston Martin has experienced significant growth under CEO Andy Palmer. Ambitious projects such as the Valkyrie hypercar and a possible entry into Formula 1 could elevate the brand to the status of Ferrari and other leading global manufacturers. With plans for expanded road car production and racing initiatives, public investment might provide Aston Martin with the support needed to ascend into the highest tier of luxury sports car makers.
Aston Martin did not immediately provide a comment to The Drive’s inquiry but has previously refrained from discussing speculation surrounding an IPO with other media outlets.
–Althea Chang contributed to this report..
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