Aston Martin Says Stock Market Debut Fully Subscribed

Aston Martin stock market share offer had been fully subscribed after it tightened and slightly lowered its price range to between 18.50 pounds to 20 pounds per share.

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Aston Martin is selling around 25 per cent of its stock in the first initial public offering (IPO)

Luxury British carmaker maker Aston Martin said its stock market share offer had been fully subscribed after it tightened and slightly lowered its price range to between 18.50 pounds ($24.11) to 20 pounds per share.

The company, famed for making the sports car driven by fictional secret agent James Bond, is selling around 25 percent of its stock in the first initial public offering (IPO) by a British carmaker for decades.

Aston Martin

Aston Martin Cars

Aston initially set a range of between 17.50 pounds to 22.50 pounds per share, equating to a deal size of about 1.0-1.27 billion pounds and giving the company a price tag of up to 5.1 billion pounds.

It said on Monday the books were now covered at the tighter range and it expects to close them at midday London time on Tuesday.

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The IPO follows a sale of shares by its main owners, Kuwaiti and Italian private equity groups.

© Thomson Reuters 2018


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