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Aston Martin Names Chairman Ahead of October London Listing

  • British luxury carmaker pushes ahead with plans for IPO
  • Free float will be at least 25 percent, Daimler converts stake
Luxury Automotive At The Istanbul Autoshow
Photographer: Kostas Tsironis /Bloomberg
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Aston Martin, maker of luxury sports cars for James Bond, is moving ahead with a plan to list shares in London, naming Penny Hughes as chairman to end all-male board representation.

The manufacturer will trade on the London Stock Exchange in October, with a free float of at least 25 percent of the issued share capital and Daimler AG converting its holding of about 4.9 percent to ordinary shares, the company said Monday in a statement. Bloomberg was the first to report that the maker of cars made famous through the spy movie franchise is said to target a valuation of 5 billion pounds ($6.5 billion), which would approach Ferrari NV’s multiples.