>> Aston Martin is going public, the 105- year old luxury car maker, setting out plans to float on the London Stock Exchange. Meaning the once, perennially loss making company, could be valued at nearly five billion pounds.>> Aston Martin has been saying for years that it will be an IPO, was the obvious way out, so for a very long time now under different bosses.
The question has always been, when will this happen?>> Reuters, Costas Pitas, says this is a huge u-turn for the company, in 2014, they appointed a new boss. And then, a few months later, shareholders invested about 200 million pounds.>> And what that money has done, is it's allowed them to come up with a new plan, so they'll stop building electric models.
They’ll widen the offering that they’ve done. But also, more importantly, they’ve refreshed some of those sports cars that were lagging from say 2007 until 17.>> Aston Martin is famed for its starring role in nearly 50 years of James Bond films, but its history has been turbulent. Having gone bankrupt seven times, last year it made it's first profit since 2010, now it's game plan is to float by the end of the year.
The same target that Theresa May is working towards for a Brexit deal. Aston sells roughly a quarter of its cars to the EU, and has plants only in the UK. But CEO, Andy Palmer, reckons Brexit won't have a major effect on the company. He says any tariffs imposed on exports to Europe, will be made up by UK tariffs on arrivals products coming the other way.