Aston Martin is reportedly preparing to appoint three banks to manage a listing on the London stock market.
Reuters said the listing could value the company at between four and five billion pounds and cited an anonymous source said to have direct knowledge of the matter. It said Aston Martin plans to hire Deutsche Bank, Goldman Sachs and JPMorgan to help plan for an IPO.
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Aston Martin Holdings (UK) reported a record full-year financial performance in 2017 driven by continued strong demand for the DB11. For the 12 months to 31 December 2017, the group delivered its highest-ever revenues of GBP876m (US$1,222m), up 48% versus the prior year. Adjusted EBITDA more than doubled to GBP207m, while pre-tax profit rose by a quarter of a billion pounds to GBP87m, reversing a pre-tax loss of GBP163m in 2016.
The improved financial performance reflected an increase in wholesale volumes to 5,098 units, Aston Martin's highest full-year sales volumes in nine years, driven principally by rising demand in North America, the UK and China. Global retail sales increased 58% to 5,117 units up from 3,229 units in 2016.
Earlier this year Mark Wilson, executive vice president and chief financial officer at Aston Martin said that the company continue to consider a range of strategic options for the future of the group, including the potential for an IPO.
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