Aston Martin valued at $6.7 billion in IPO pricing

The luxury carmaker says it will sell a 25 per cent stake for between 17.50 pounds and 22.50 pounds a share, valuing the company at as much as 5.07 billion pounds ($6.7 billion).

By Associated Press  
Thursday, September 20, 2018

London, Sep 20 (AP) Aston Martin Lagonda, the maker of James Bond's favourite sports car, plans to raise as much as 1.27 billion pounds ($1.67 billion) when it sells shares to investors for the first time. The luxury carmaker says it will sell a 25 per cent stake for between 17.50 pounds and 22.50 pounds a share, valuing the company at as much as 5.07 billion pounds ($6.7 billion).

Aston Martin said on Thursday the exact price would be set around October 3. The company says Daimler will remain a shareholder and won't reduce its 4.9 percent stake for 12 months.

Aston Martin CEO Andy Palmer says the share sale "will provide investors with a fitting opportunity to participate in our future success."

The carmaker was founded in London in 1913 and is headquartered in Gaydon.

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