Aston Martin lines up seven top banks to manage £4bn float

Aston Martin has appointed seven banks to act as bookrunners on its £4bn stock market flotation, according to reports today.

Rumours of the luxury car brand floating in London surfaced in February, though any final decision would come down to the company’s Italian private equity owner Investindustrial.

Today, Sky News reported that shareholders had lined up seven banks including Bank of America Merrill Lynch, Credit Suisse, HSBC and Unicredit to deliver the flotation.

Deutsche Bank, Goldman Sachs and JPMorgan will also reportedly work together as joint global co-ordinators on the IPO.

Read more: Aston Martin to appoint three banks to prepare £4bn IPO

It confirms news reported at the start of April that the carmaker was lining up a number of banks to manage the flotation.

Getting the banks on board is the clearest sign the company has shown yet that it could be close to going public.

Sources told Sky News that Aston Martin would attract a valuation of £4bn to £5bn.

London is the most likely venue for the listing, although New York is also being considered by shareholders.

At the start of this year, the company, which produces cars driven by British fictional superspy James Bond, announced a brilliant turnaround in profits, to the relief of shareholders.

It sold 5,117 vehicles in 2017, as revenues topped £840m.

A spokesperson for Aston Martin had no comment on the news.