Aston Martin set to appoint Goldman Sachs, Deutsche Bank, JPMorgan as global coordinators on IPO - report
Aston Martin Lagonda, a UK-based luxury car manufacturer, is about to appoint the investment banks Goldman Sachs, Deutsche Bank and JPMorgan as global coordinators on its planned initial public offering, Sky News reported. The report cited insiders who said Aston Martin’s board is believed to have recommended the appointments, which have yet to be signed-off by the carmaker’s owners.
Aston Martin disclosed on 27 February that it was considering strategic options including a possible IPO.
The carmaker is expected to appoint additional banks ahead of the listing, the article said.
London is considered the most likely venue for the IPO, although the company has also considered a New York listing, according to the report.
If Aston Martin chooses London as its listing venue it may choose to list Global Depositary Receipts in New York, the item said, citing insiders for the information.
Aston Martin is also looking to appoint an independent chairman ahead of a flotation, the report continued.
A flotation could value Aston Martin at GBP 4bn (EUR 4.58bn), the item said, without attributing the valuation to a source.
As reported in December last year, Aston Martin’s owners - Investindustrial, Investment DAR and Daimler [ETR:DAI] - hired the investment bank Lazard to advise on a possible sale or listing.
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