Aston Martin Lagonda Global Holdings PLC has screwed down the pricing range for its mid-week London IPO with the top end of pricing trimmed down.
A narrowed pricing range is now set at 1,850p to 2,000p, from 1,750p to 2,250p. It sees the luxury car maker’s market valuation slip below the £5bn mark (the original range pitched the valuation between £4.02bn and £5.07bn).
The books are now covered for the public share sale ahead of Wednesday’s float.
“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,” chief executive Andy Palmer said as the IPO was announced in September.
“[Our] 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.”