LONDON—Aston Martin Lagonda, the maker of James Bond’s favorite sports car, plans to raise as much as £1.27 billion ($1.67 billion) when it sells shares to investors for the first time.
The luxury carmaker says it will sell a 25-percent stake for between £17.50 and £22.50 a share, valuing the company at as much as £5.07 billion ($6.7 billion). Aston Martin said on Thursday the exact price would be set around October 3.
The company said Daimler will remain a shareholder and won’t reduce its 4.9-percent stake for 12 months.
Aston Martin CEO Andy Palmer said the share sale “will provide investors with a fitting opportunity to participate in our future success.”
The carmaker was founded in London in 1913 and is headquartered in Gaydon.