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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.

2018 Aston Martin DB11 Volante First Drive Review | The speed of style

If you're not a car designer, chances are you've tried to draw a sportscar, and realized just how hard it is to get those proportions just right. One false line, and the sleek coupe of your imagination looks like a kumquat. So you can imagine that transforming the striking V8-powered Aston Martin DB11 coupe into an equally stunning Volante ragtop was harder than it looked, a task which required Aston designers and engineers to nip and tuck everything past the windshield. "There were lots of healthy, heated debates," lead designer Julian Nunn says of how the DB11 Volante – fancy speak for convertible – was packaged. As it sits before us on a brisk winter morning in Southern France, the British drop-top has a sleek, fleet look thanks to the elegant rake of its nose, the sharp arc of its roofline, and the taut contours of its derriere. Aston's designers nailed the proportions – it's a stunner. How they got there was a game of millimeters, starting with a minuscule lift of the haunches to accommodate the eight-layer folding soft top. To soften the look of those lifted surfaces, the wheel arches are faceted slightly inboard, lending them more depth and dimension. The convertible loses the air vent at the rear, since there's no roof to create lift; as such, the so-called AeroBlade feature which ducts air through the C-pillar is also gone. But the rear spoiler remains, automatically deploying for downforce with a speed-dependent algorithm based on driving mode. The stack height (that is, the vertical space occupied by the folding roof) measures 10 inches, the lowest in its class, which helps the DB11 achieve its graceful looks with the added benefit of keeping the center of gravity low. The top takes 14 seconds to lower, and will drop at speeds up to 31 mph. A Volante with its top down puts Aston's typically gorgeous cabin on full display: the door's brogued leather details surrounded by an improbably shaped veneer surround; the complex curvature of the veneer around the capacitive touch-sensitive infotainment interface; the improbably generous swaths of leather and Alcantara upholstering the dashboard and A-pillar surfaces. There's even, for the first time, veneer on the backs of the front seats. The tiny rear seats come with ISOFIX car seat attachments, a first in a Volante. I could go on about the DB11's unusual and intriguing aesthetic choices, but I've also got a persistent gripe with the electronic instrument cluster.

You can buy James Bond's Spectre Aston Martin DB10

If you watched Daniel Craig sliding around Rome in Spectre and wished you could drive the Aston Martin DB10 too, an upcoming Christie's auction will be your best chance to own one. The company will sell the first of these rare cars to the public on February 18 in London, but you'll probably need a martini – shaken, not stirred – after signing the check because the coupe will likely go for over 1 million pounds ($1.4 million at current rates). The proceeds will benefit Medecins Sans Frontieres. Aston Martin designed the DB10 specifically for Bond and built 10 of them for Spectre. Underneath the carbon-fiber body, the British automaker based them on the V8 Vantage, including its 4.7-liter V8 and six-speed manual gearbox. The movie's production modified most of the DB10s for filming, but it left two untouched, including this one. Daniel Craig also signed the car. The chance to share a vehicle with James Bond sounds incredibly tempting, but you might have a hard time taking the DB10 out for a drive because Aston Martin doesn't have homologation for the car or certification for it to be on public roads. However, you could still enjoy pretending to be a secret agent around a track or another piece of private tarmac. UNIQUE OPPORTUNITY TO OWN AN ASTON MARTIN DB10 PREDICTED TO RAISE OVER GBP1 MILLION FOR CHARITY The only DB10 to date to be made available for private ownership Opportunity to own a piece of automotive history To be auctioned on February 18th to raise money for Medecins Sans Frontieres 21 January, 2016, Gaydon: The Aston Martin DB10 – the first car created exclusively for James Bond by British luxury brand Aston Martin – is to go under the auctioneer's gavel at the London auction house of Christie's on 18th February with proceeds donated to Medecins Sans Frontieres. 'Spectre – The Auction' celebrates the release of the 24th Bond film on Digital HD, Blu-ray™ and DVD with 24 special auction lots going under the hammer for charity, led by the Aston Martin DB10. Celebrating the great British brand's half century with Bond, which started with the iconic DB5, the DB10 gives a glimpse of the future design direction for the next generation of Aston Martins. Production of the DB10 was strictly limited to ten examples of the bespoke sports car which was developed and hand-built by the designers, engineers and artisan craftspeople at Aston Martin's Gaydon headquarters in the UK for the latest Bond film, Spectre.