The British luxury sports auto maker only made its debut on the London Stock Exchange this morning, but nearly immediately shares fell as much as 6.5 percent as both investors and analysts cast doubt over the company's ambitious plan to introduce a raft of new models - a new model every year from 2016 to 2022.
"Today's listing on the London Stock Exchange represents a historic milestone for Aston Martin Lagonda", company CEO Andy Palmer stated in a release from the London stock exchange. Current Aston Martin Lagonda shareholders could also make a further 5,700,072 shares in the case of an over-allotment option, which would result in a total share issue worth £1.19bn (Rs 11,319 crore) (27.5 percent of the company).
Shares are now trading around £18.15. The NAV published for the month of August included a Euro 20.0m valuation for the co-investment in Aston Martin as at June 30, 2018.
James Bond's favourite carmaker Aston Martin stalled on Wednesday (Oct 3) after making a glitzy £4.3 billion (S$7.7 billion) debut on the London stock market.
The hotly-anticipated move is the largest IPO in the global automotive sector since Italian luxury vehicle giant Ferrari listed on Wall Street three years ago.
Utah toddler shreds $1,000 in cash, parents say
The couple searched their home, and found the cash - still inside the envelope - but inside the shredder. In shock, Jackee said the two "shuffled" through the shreds of paper for a few minutes in silence.
Shares opened flat at £19, but started to lose ground, coughing up more than 4% in early trading.
Neil Wilson, chief market analyst at Markets.com, said the strike price may be "a disappointment for the owners".
Despite the company's chequered history - it has gone bust seven times in 105 years - there had been much anticipation over the share sale.
Given that the list price of a brand new entry level Aston Martin is around £120,000, it's fair to say that James Bond's choice of motor is reserved usually for the exclusive buyer. Daimler, which owns Mercedes-Benz, was said to be keeping a 4.9 percent stake in Aston Martin following the IPO.
Its shareholders, which include Italian investment firm Investindustrial and a group of Kuwait-based investors, sold a quarter of the company's stock in the initial public offering (IPO).