Aston Martin valued more than 4 billion pounds for its ipo

Aston Martin shares tumble after London float

Aston Martin cut https://www.reuters.com/article/us-astonmartin-ipo/aston-martin-narrows-6-billion-ipo-range-after-investor-response-idUSKCN1MB1LT the upper end of its initial public offering (IPO) price range to 20 pounds per share on Monday, giving it a potential market value of up to 4.6 billion pounds. Current Aston Martin Lagonda shareholders could also make a further 5,700,072 shares in the case of an over-allotment option, which would result in a total share issue worth £1.19bn (Rs 11,319 crore) (27.5 percent of the company). In fact, just over 90 minutes after trading started, shares were already down five percent.

The British manufacturer, now known as Aston Martin Lagonda Global Holdings Plc, is planning to expand its presence in the sports-car world with the Vanquish, Vantage and DB models.

Aston Martin's trading debut floundered after investors balked at a valuation that had put the United Kingdom luxury carmaker on par with larger and more profitable Italian competitor Ferrari NV.

Even at the lower figure, Aston Martin's IPO marks a dramatic win for its shareholders who are set to reap a 10-fold increase in less than a decade. "We are excited about the momentum across the company and are fully focused on continuing to deliver our exciting growth strategy through the Second Century Plan".

"For your IPOs only", said Accendo Markets analyst Mike van Dulken in reference to 1981 Bond flick "For Your Eyes Only", which starred Roger Moore in the lead role. The Italian Bonomi, who owned motorbike maker Ducati before selling it to Volkswagen AG in 2012, will keep a stake in Aston Martin after the IPO.

The vehicles have a long-running association with James Bond, having made their debut in 1964 film "Goldfinger" and more recently in 2015 s "Spectre". That's about 20.7 times the company's first-half profit, according to data compiled by Bloomberg.

"It's fair to assume the average Aston Martin buyer is less price-sensitive than your average driver".

Eligible Aston Martin employees, customers and owners' club members based in the United Kingdom will benefit from a specific share offer.

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