James Bond carmaker Aston Martin stalls in glitzy £4.3b London IPO

05 October, 2018, 18:45 | Author: Eric Barnett
  • James Bond DB5

Fiona Cincotta, Senior Market Analyst at CityIndex told LLB: "Many eyes were on Aston Martin today, which began trading in the London market after much hype in the run up to the listing".

James Bond's favourite carmaker Aston Martin on Wednesday launched on the London stock market, valuing the British luxury sports vehicle brand at £4.3 billion ($5.6 billion, 4.9 billion euros).

Shares were priced at 19 British pounds and fell as low as 17.75 British pounds during Wednesday's session in London, according to the BBC.

A source familiar with the matter had said the price slipped towards the bottom of the original range because investors had concerns about the execution risk of rolling out its new models: Aston Martin plans to launch a new core model every year from 2016 to 2022. This was later narrowed to between £18.50 and £20.

Based on around 57 million shares being sold, a free float of 25 percent, the listing would give the company a market capitalisation of up to around 4.6 billion pounds.

Shares in luxury carmaker Aston Martin were down 6.5 per cent at £17.81 by noon on their first day of trading on the London Stock Exchange.

Private Equity Holding is invested in Aston Martin via a direct co-investment and holds further indirect exposure through its investment in Investindustrial V and BI-Invest Endowment Fund.


'We are delighted by the positive response we have received from investors across the world and are very pleased to welcome our new shareholders to the register'.

The firm, which has gone bust seven times in its 105-year history, opened with a valuation of £4.3bn, below its initial hopes for a price tag of over £5bn.

In August, the business reported half-year profits of £42m while revenues rose 8pc to £445m.

Aston Martin has in recent years sought to capitalize on its high-end brand.

The British supercar maker is now owned by Italian and Kuwaiti shareholders, alongside other minority investors.

At the time of the IPO, he said: "Today's results show that we have continued to deliver sustainable growth, margins and value for our shareholders whilst launching three new models and variants in the first half of the year". The current owners of the Aston Martin Lagonda shares could also increase the offering by 5.7 million shares through over-allotment options, increasing the stake to a maximum of 27.5%.

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