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29 August 2018

Retail investors face wait to buy Aston Martin

Beloved by James Bond and royalty, Aston Martin has announced it is gearing up for a London listing valuing the company at around £5bn.

But retail investors hoping to buy shares in the luxury sports car maker will have to wait until they become available on the secondary market as it is understood that a fifth of them will be available to institutional investors in the first instance, with the remainder available to eligible employees and customers.

Keith Loudon, Chairman at investment management and stockbroking firm Redmayne Bentley, said: “The Stock Exchange is a market that should be open to all who are able and wish to use it.

“In my opinion the Stock Exchange is misguided to allow a quotation to be granted to a company that, in its initial public offer (IPO), does not at least make a percentage available to retail investors, you and me.

“Yes, of course, retail investors can deal when dealings start – why not allow them ‘in’ at the beginning? It is good news that 2,700 staff at Aston Martin will be able to benefit from a share scheme when the company is floated later this year. We understand that customers may be allowed to participate. I wonder how customers will be defined here – perhaps they must have bought a car in the last year?

“The company and its advisers have missed a good profile opportunity. The Stock Exchange should get a grip and give a fair deal to retail investors.”

Full details of the offer are expected to be published in its prospectus around 20th September 2018.

Ends

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Retail investors face wait to buy Aston Martin
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