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Aston Martin speeds ahead with October IPO worth perhaps $6.7 billion

LONDON — Luxury British carmaker Aston Martin is seeking a valuation of up to 5.07 billion pounds ($6.7 billion) from its stock market flotation and has taken steps to prepare for any eventuality over Brexit, it said on Thursday. The company, famed for making the sports car driven by fictional secret agent James Bond, said last month it was pursuing an initial public offering (IPO), the first British carmaker to do so for decades. The automaker will publish a prospectus later on Thursday and hopes to announce its final pricing on or around Oct. 3. It expects its shares to be admitted to the London Stock Exchange on or around Oct. 8. Carmakers have warned about the impact of any customs checks introduced as a result of a no deal or hard Brexit which could slow down production and add costs when Britain leaves the bloc in March 2019. The boss of Aston, which builds all its cars in Britain, said the company had boosted its stock of engines and components in case free and unfettered trade with the European Union ends in a few months' time. "We're up to five days of engine stock for example and we've got a very large warehouse in Wellesbourne (in central England) where we have at least five days of car stock," Chief Executive Andy Palmer told Reuters, an increase from the previous three days' worth of components held by the firm. "If there are tariffs ... for every car we lose because of a 10 percent tariff into Europe, we presumably pick up from Ferrari and Lamborghini in the other direction because obviously their cars become more expensive in the UK," he said. London and Brussels hope to conclude a Brexit agreement by the end of the year, but fellow carmakers such as BMW and Jaguar Land Rover (JLR) are worried that failure to agree could lead to snarl-ups at motorways and ports, disrupting production. JLR boss Ralf Speth warned last week that the wrong Brexit deal could cost tens of thousands of car jobs and risk production at the firm, Britain's biggest carmaker. Aston, which has set a price range of 17.50 pounds to 22.50 pounds per share for the 25 percent of stock it is floating, is targeting a market capitalization of between 4.02 and 5.07 billion pounds. The carmaker, which has long said it could pursue a listing, has undergone a turnaround plan since Palmer took over in 2014 as it boosts its volumes and expands into new segments with a new factory due to open in 2019.

James Bond Aston Martin Lego kit coming soon from Denmark with love

It's a good time to be a Lego fan and a car enthusiast. We've got little Speed Champions models of Le Mans race cars and classic sports cars, and intricate big models ranging from the VW Beetle to the Bugatti Chiron. The streak continues soon with a new kit announced by Aston Martin's Twitter page. Apparently Lego will be making a kit based on a car from one of the James Bond films. It's been 'driving' us wild with excitement and now we're nearly ready to reveal this powerful creation! #LicenceToBuild pic.twitter.com/KYHiHxlcR0 — Aston Martin (@astonmartin) July 3, 2018 The thing is, the cover art doesn't actually show what car will be used. There are quite a few Astons to pick from, too. You've got the most recent one, the DB10 from "Spectre." Then of course the DBS from " Casino Royale" and " Quantum of Solace." Oh, and how could anyone forget the missile-launching, active-camouflaging Vanquish from "Die Another Day"? View 61 Photos If we're being honest, though, there's only one Aston Martin that is truly exemplary of Bond, and that's the DB5 from "Goldfinger." It's timelessly cool, has all the gadgets, and keeps reappearing in more recent Bond films. As such, there would be no better place to start for a Lego James Bond car kit. And, since the kit will be a Creator Expert series model, we can imagine it having functioning gadgets such as the revolving license plates and the ejector seat. Man, this kit could be so cool. Hopefully we don't have to wait long to see all the details. Related Video: Image Credit: Aston Martin, RM Sotheby's Toys/Games TV/Movies Aston Martin Coupe Performance Classics Lego

Aston Martin's biggest investor considers increasing its stake

LONDON — The biggest investor in Aston Martin is considering buying another 3% stake, offering to increase its holding after shares in the luxury carmaker crashed almost 50% since its listing nine months ago. Strategic European Investment Group, part of the Italian private equity group Investindustrial, owns 31% of Aston Martin. It only wants to buy a maximum 3% stake but has to make an offer to all shareholders due to its already large holding. It has secured agreements from existing shareholders such as a group of Kuwait-based investors to back the move. It is offering to pay 10 pounds per share, the price at which the shares closed on Friday. It must make a decision by July 29. Aston Martin has struggled since it listed in October last year. Its shares fell on the opening day and are now down 47 percent. The company's recent results have been hit by a need to invest more in its manufacturing plants and expand its vehicle offering, leading to higher costs.  Related Video: