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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.

Why yes, my $3.6 million would go to a new 007 Aston Martin DB5

Funniest damn thing happened today. Turns out my grandfather invested in what he thought was a fruit company in the early 1980s, and 35 years later, we just discovered the Riswicks are all now multi-millionaires. That farmer Jobs guy really knew his orchard. So, what to do with my $3.6 million share. What's that you say? Aston Martin has announced it will be producing 28 new "continuation" 1964 DB5's, all in Silver Birch, and all packing vintage Q Brand gadgets from Goldfinger? Oh, well all of the money will be going to that, then. Now, Mr. Okulski over at the Road & Track would argue that the continuation James Bond DB5 has "killed nostalgia." He says that "it feels wrong," that Aston Martin is doing too much good stuff at the moment to resort to such nostalgia plays. Especially when you cannot drive the continuation DB5 on the road. That's right, every one of them is not road legal. In this country, or any other that you'd realistically want to drive a DB5. I reached out to Aston Martin to confirm why this is, and indeed, governments the world over frown upon any vehicle that possesses spinning tire shredders that extend out from the wheel hubs. Not to mention oil slicks, rotating number plates and the rest of the gadgets to be installed over the course of the estimated 3,000-hour build by the team headed by current Bond special effect guru Chris Corbould. Hmm, no kidding. Even without the guns and ejector seat, trying to make it road legal would be completely and unrealistically complex. In other words, if a DB5 with all the gadgets is to exist, it can't drive on public roads. And if you want a "new" 1964 DB5, don't you automatically want it in Silver Birch and packed with James Bond gadgets? Yes, you damn well do. I know this, because if I could outfit my BMW Z3 in Atlanta Blue with stinger missiles, a parachute and "all-points radar," I damn well would. I absolutely, 100 percent own my car because of nostalgia for GoldenEye, and I won't apologize for it. The Tina Turner theme song is cued up on the iPod. And yeah, I'd buy one of these, too. Now, I must admit that the DB5's road illegality is lame. But let's dig deeper. First, let's face the fact that most multimillion-dollar collector cars are driven less than the potted plants in my living room. They could all be road illegal and it wouldn't matter. If they're lucky, they're trailered to a golf course somewhere and driven slowly around the 18th fairway by a man in a jaunty hat.

Aston Martin Vantage might get a Mercedes inline-six

Aston Martin has turned its eye to the inline six-cylinder engine Mercedes-Benz installs in the CLS 53. The British carmaker uses an AMG-sourced 4.0-liter V8 for the DB11 and the Vantage, which produces 503 horsepower and 505 pound-feet of torque in the latter coupe. Aston Martin hasn't said anything about whether or when it would use the inline-six, nor mentioned a product to slot the engine into. If the six does migrate from Germany to England, the move brings several benefits for Aston Martin, and it would create the first six-pot Aston Martin since the 1999 DB7. The 3.0-liter, AMG-built six-cylinder uses an electric turbocharger to put out 430 hp and 383 lb-ft of torque, and gets help from a 48-volt EQ Boost micro-hybrid system throwing in 21 hp and 184 lb-ft. After driving it at a Mercedes-Benz test track, Aston Martin's chief engineer Matt Becker called the powerplant "very complicated and clever," and said, "it's a very impressive engine" that he could envision serving the brand. The 2019 Vantage engine bay can already fit the company's in-house, 5.2-liter V12, so a straight-six shouldn't be hard to swallow. As for how it would fit into the lineup, there's a chance a six-cylinder Vantage supplants the V8. However, since Becker said his engineering team "would not necessarily play" with the AMG's power curves, that option would probably have to wait until AMG upped the three-liters' output. We'd be surprised if Vantage buyers would accept giving up two cylinders and 73 hp. More likely, a six-cylinder Vantage could give Aston Martin a new entry-level model to undercut the $153,081 Vantage V8, but with plenty of ponies to thrill. A V6 coupe could also help the carmaker's emissions scores, and serve specific markets such as China where engine displacements greater than three liters get hit with heavy taxes. Related Video: