Luxury car maker Aston Martin is set to sell shares to the public in a bid to raise cash for next generation of models.

The Gaydon-based manufacturer was acquired by Investment Dar and Adeem Investment in 2007 and since then has developed the Rapide as well as new DB9 and Vantage models but chief executive Ulrich Bez has said that new funds would be needed to develop new projects such as the sports utility Lagonda.

It is believed that the Kuwaiti owners would back the float - which could take place over the next two years - but retain a majority stake in the marque.

Aston has come through the downturn in the auto sector by reducing its workforce by around 600 and the first Rapides, the model being developed for Aston Martin by Magna in Austria, are set to be delivered in the coming weeks.