Kuwait-backed 007 carmaker Aston Martin targets London float

Aston Martin DB5 pictured in Paris on April 16, 2016 at an exhibition dedicated to James Bond. (AFP)

LONDON: British luxury carmaker Aston Martin is mulling a London stock market flotation, Bloomberg reported Tuesday.
Aston Martin, in which Kuwait’s Investment Dar and Adeem Investment Co. own a stake, is mulling an initial public offering (IPO) that could value the iconic sports car manufacturer at as much as £5 billion ($6.8 billion, 5.7 billion euros), according to a report which cited people familiar with the matter.
Investor interest in the shares sale could be boosted by the group’s plans to launch its first sport utility vehicle (SUV), the report added.
Aston Martin’s flashy supercars feature regularly in James Bond movies.
A company spokesman declined to comment on the report when approached by AFP.
“Aston Martin notes ongoing media speculation concerning a potential stock market listing of the company,” said chief marketing officer Simon Sproule.
“As a matter of policy, Aston Martin does not comment about speculation concerning future ownership or capital restructuring.”
He added: “Management remains focused on ... renewing the company’s model portfolio, expanding its manufacturing footprint and delivering sustained profitability.”
Aston Martin, based in Gaydon in central England, is controlled by Italian private equity fund Investindustrial and Kuwaiti investors.
The carmaker rose to fame thanks largely to its DB5 sports car, a favorite of early Bond actor Sean Connery.