Aston Martin IPO orders below 19 pounds/share risk missing out - bookrunners

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Aston Martin IPO orders below 19 pounds/share risk missing out - bookrunners

The deadline for orders is 1100 GMT.

The British luxury sports vehicle 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.

Aston Martin had initially set a range of 17.50 pounds to 22.50 pounds per share, but on Monday narrowed this to 18.50 to 20 pounds saying it had sufficient bid interest to cover all the shares being sold.

Aston Martin's long-awaited debut on the stock market hasn't gone too well.

Shares in Aston Martin fell as much as 6.5 percent during its market debut in London on Wednesday after investors and analysts raised concerns that it may find it hard to deliver on an ambitious rollout of new models.

"We've taken 105 years to get to an IPO, we are not going to worry much on what the initial shares are doing as we will always look over the longer term", Chief Executive Officer Andy Palmer said in an interview with Bloomberg TV.

Shares in Aston Martin Lagonda finally went under the hammer yesterday, but it was an inauspicious introduction to public markets for the luxury carmaker.

'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'.

The company, which past year made its first profit since 2010 and has gone bankrupt seven times in its history, was due to begin conditional trading on the London Stock Exchange today.

The issue price of GBP 19.00 per share implies a GBP 4.33bn valuation.

In August, Aston Martin reported half-year profits of £42m.

Aston Martin shifted into reverse in its first day of trading Wednesday after pricing its initial public offering (IPO) below the top end of its target range.

The hotly-anticipated move is the largest IPO in the global automotive sector since Italian luxury auto giant Ferrari listed on Wall Street three years ago. The current owners of the Aston Martin Lagonda shares could also increase the offering by 5.7 million shares through over-allotment options, increasing the stake to a maximum of 27.5%.

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