Early trading of IPO debutant Aston Martin’s shares on the London Stock Exchange has seen their price fall today. The shares are being traded on a ‘conditional basis’ ahead of ‘full trading’ for the first time on Monday (October 8).
The shares were priced to open at GBP19 a share, valuing the premium sportscar maker at a hefty GBP4.4bn market capitalisation, but have since dipped below GBP18.
The IPO is expected to raise GBP1bn for the firm, enabling it to embark on an aggressive program of new product development.
Dr Andy Palmer, President and Group CEO, said: “Today’s listing on the London Stock Exchange represents a historic milestone for Aston Martin Lagonda.
“We are delighted by the positive response we have received from investors across the world and are very pleased to welcome our new shareholders to the register. We are excited about the momentum across the company and are fully focused on continuing to deliver our exciting growth strategy through the Second Century Plan.”