Mexican Media Brands
Aston Martin Refines Stock Price Range Ahead of IPO
Aston Martin Lagonda Ltd. has narrowed the price range for the shares it will offer on Wednesday through an initial public offering.
#economics
Share
Aston Martin Lagonda Ltd. has narrowed the price range for the shares it will offer on Wednesday through an initial public offering.
The shares will sell between £18.50 and £20 ($24-$26), compared with an originally proposed range of £17.50-£22.50. The update values Aston Martin at £4.2 billion—£4.5 billion ($5.5 billion-$5.9 billion).
At the top end of the range, Aston Martin would trade at 19 times earnings, compared with about 22 for Ferrari NV, which went public three years ago.
The company, which has gone through bankruptcy seven times since its founding in 1914, reported a £21 million ($27 million)pretax profit in the first half of 2018 on revenue of £450 million ($587 million).
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.