Aston Martin Lagonda Global Holdings Limited has unveiled the appointment of a non-executive chairwoman alongside a series of other proposed roles as the luxury carmaker confirmed its intention to pursue an initial public offering in October 2018.
The firm, famed for making James Bond’s cars, said last month that it hopes to float on the London Stock Exchange, with a premium listing on the official list, after it reported a record set of half-year results.
READ: Aston Martin gears up for £5bn London IPO as it unveils record half-year profits
In a statement on Monday, the carmaker said it would appoint Penny Hughes, who has previously worked at FTSE 100 firms including Royal Bank of Scotland Group PLC (LON:RBS), Vodafone PLC (LON:VOD) and supermarket group Wm Morrison Supermarkets PLC (LON:MRW) as its non-executive chair when the flotation takes place.
It also said that the indicative price range for the offer with the maximum number of shares to be sold will be detailed in its Price Range Prospectus, which is due to be published on or around September 20.
The firm also revealed that Daimler AG of Germany will remain a shareholder and will not sell-down at IPO, converting its current non-voting stake of approximately 4.9% to ordinary shares, and it has also agreed to a 12-month lock-up of those ordinary shares after listing.
It said eligible Aston Martin employees, officers, customers and Aston Martin Owners Club members, who are resident in the UK, will be able to apply to purchase shares in the IPO at the offer price.