Aston Martin Vantage

Aston Martin sets share price range for October stock market float

Aston Martin VantageAston Martin has announced its initial public offer of shares is set at £17.50 to £22.50 per share – giving the company a market capitalisation of between £4.02 billion and £5.07 billion.

The company will offer 25 percent of its shares in its initial public offer (IPO).

The final price will be set on 3 October, when initial share dealing will commence. Aston Martin’s shares will begin trading on the London Stock Exchange from 8 October.

Aston Martin Vantage

A final prospectus will be issued later today, says the Gaydon-based sports car firm, after which customers and employees will be able to apply for shares. All applications must be in by 28 September (and anyone looking to invest more than £15,000 will be subject to anti-money laundering checks).

Dr Andy Palmer, president and CEO, said: “By becoming the only automotive company listed on the London Stock Exchange, Aston Martin Lagonda will provide investors with a fitting opportunity to participate in our future success.

“Our Second Century Plan gives prospective investors deep insight into how we have executed our turnaround and how we are positioned for growth. Over the past four years the benefits of the Aston Martin turnaround to the UK economy have been profound.

“This track record has created significant interest in the Aston Martin Lagonda offer, and we are pleased to offer shares not only to institutional investors but also to our eligible UK resident employees, customers and members of the Aston Martin Owners Club.”

Aston Martin adds in the price range announcement that Daimler AG will remain a shareholder, locking in its 4.9 percent stake for 12 months after the company’s IPO.

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