Aston Martin revs up for IPO

|By:, SA News Editor

Aston Martin has hired seven banks to help it prepare for an IPO, according to Sky News.

Bank of America Merrill Lynch, Credit Suisse, HSBC and Unicredit are in line as bookrunners for the IPO - while Deutsche Bank, Goldman Sachs and JPMorgan will reportedly act as joint global coordinators.

Sources indicate the company is seeking a valuation of between £4B and £5B for the IPO expected to be on the London Stock Exchange.

PE firm Investindustrial and Investment Dar are the two largest shareholders of Aston Martin. Daimler (OTCPK:DDAIF) holds a small stake.

Aston Martin is an iconic auto brand, helped in part by its inclusion in 12 James Bond movies, including twice (DB10, DB5) in 2015 release Spectre.

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