Aston Martin is reportedly considering an IPO for as early as next year.
According to insiders who talked to Bloomberg, Aston Martin has watched the success of Ferrari’s IPO and may want to capitalize on investor demand for high-end automotive companies. The publication reports a decision hasn’t been finalized and the automaker is waiting to report its 2017 financial results before moving ahead with the process.
When asked for comment, Aston Martin spokesman Simon Sproule said the company is “100 percent focused on the delivery of our seven-year business plan” and noted “matters pertaining to the future structure or ownership of the company are a matter for our shareholders.”
An Investindustrial spokesperson also downplayed the rumors but Bloomberg reports Aston Martin could be aiming for a $3 billion valuation. That would put the company in the same territory as Ferrari but skeptics believe the British brand lacks the cache of its Italian rival.
Aston Martin has been considering an IPO for awhile and former CEO Ulrich Bez suggested it would be a natural way for the company’s investors – which include Adeem Investment, Investment Dar, and Investindustrial – to cash out.