Aston Martin speeds ahead of October with up to $6.7 billion IPO

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According to recent reports, on Thursday, the Luxury Aston Martin British carmaker said in a company report that the company currently is seeking for a valuation of not less than 5.07 billion pounds which compared to the U.S dollar is $6.7 billion from its current stock market flotation which has taken the initial steps in the preparation of any upcoming deal eventuality over the existing Brexit. The company, which for decades have been famed in making exclusive sports car which was driven by the fictional secret agent known as James Bond. last month, the company was pursuing the initial public offering (IPO), according to reports, this is the first British carmaker ever to pursue the initial public offering (IPO) for decades. On Thursday, the automaker however, is expected to publish it’s prospectus later and we hope that soon the company will announce the final pricing on the car by the beginning of October. Nevertheless, the company’s shares are expected to be admitted around Oct. 8 to London Stock Exchange.

Nevertheless, carmakers within the market have warned the market about the great impact which comes due to imposed customs checks which were introduced due to the existence of the no deal or a hard Brexit which according to the carmakers will slow down the production and more so additional costs when Britain abandon the bloc in March next year. The Aston boss, which is responsible for development of all its cars within Britain, yesterday in a statement said that the company previously boosted its existing stock of engines and all the components in case of unfettered and free trade between European Union which was expected to end in the next few months. Andy Palmer, the Chief Executive told reporters that an increase which was expected from the previous three days of the components worth which currently holds the entire firm. He also added that they have five days of engine stock and the company has a large warehouse located in Wellesbourne in the central England where car stock can last for at least five days.