Aston Martin prepares for Brexit

According to Reuters, Aston Martin is seeking a valuation of up to £5.07bn from its stock market flotation.

The company has begun to prepare for any outcome over Brexit.

Aston Martin said in August that it was chasing an initial public offering (IPO), the first British carmaker to do so for decades.

The company will soon publish a prospectus and plans to announce its final pricing in the beginning of October.

The boss of Aston said the company had boosted its stock of engines and components in case free and unregulated trade with the European Union ends.

‘We’re up to five days of engine stock for example and we’ve got a very large warehouse in Wellesbourne where we have at least five days of car stock,’ chief executive Andy Palmer told Reuters, an increase from the usual three days’ worth of components stocked.

Aston Martin, which has set a price range of £17.50-£22.50 per share for the 25% of stock it is floating, is targeting a market capitalization of between £4.02-£5.07bn.