Aston Martin makes disappointing market debut | 3 October 2018

06 October, 2018, 18:25 | Author: Brooke Harris
  • Aston Martin shares tumble after London float

Aston Martin has priced its stock market flotation at £19 a share, giving the luxury carmaker a valuation of £4.33 billion.

I'm an engineer: "we mitigate risk", Chief Executive Andy Palmer, who has led a turnaround plan at the company since 2014, told Reuters.

Shares are now trading around £18.15. The former Nissan veteran has been working to grow customers number by expanding the Aston Martin's model range and using a higher turnover of new products to drive sales.

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.

Palmer said he was "delighted" with the response to the IPO, describing it as a milestone for the company and pledging to deliver on growth plans.

Aston Martin is an exception in the Uk because not only it is poised to become the single automotive group listed on the stock Exchange but it is also one of the very few manufacturers which purely british.

Shares opened flat at £19, but started to lose ground, coughing up more than 4% in early trading.

India v West Indies: Virat Kohli hits 139 as hosts dominate
Only Sachin Tendulkar and Parthiv Patel were younger than Shaw when they got their maiden Test half-centuries, but not on debut. He is also the third batsman after Shikhar Dhawan (85 balls) and Dwayne Smith (93) to hit his debut ton in under 100 balls.

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.

Bond's carmaker of choice had made its debut in 1964 film "Goldfinger" and more recently featured in 2015's Spectre. That's about 20.7 times the company's first-half profit, according to data compiled by Bloomberg.

Aston is now however seeking to ramp up production and analysts predict that its top-end luxurious vehicles will likely be insulated from the twin challenges of Brexit and trade tariffs.

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

Aston, which was founded in a small London workshop, has been transformed into an ultra-luxury brand whose classic auto owners include heir to the British throne Prince Charles.

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

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