Deals
Aston Martin Pares Lofty IPO Targets Ahead of Market Listing
- Top end of price range reduced by 11% to 20 pounds a share
- Valuation would still top Ferrari’s, but bring rivals closer
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Aston Martin pared back its supercharged stock-market ambitions ahead of a planned initial public offering this week, lowering the top end of its targeted range by about 11 percent.
The new goal is 18.50 to 20 pounds ($24-$26) per share, the luxury car maker said Monday in an emailed term sheet. Previously, the company had set a range of 17.50 to 22.50 pounds, as it seeks a valuation higher than its only listed rival, Ferrari NV.