Aston Martin has priced its initial public offering on the London Stock Exchange, valuing the luxury-car maker at between 4.02 billion pounds and 5.07 billion pounds ($5.29 billion and $6.66 billion).
The Wall Street Journal had previously reported that Aston Martin was aiming for a valuation of about £5.0 billion.
Aston Martin, whose cars were made famous by featuring in the James Bond movies, said it will offer shares at between 1,750 pence and 2,250 pence each. The company plans to float 56.8 million shares, or a 25% stake, which will be derived entirely from sales by existing shareholders. There will be an over-allotment option of up to 10% of the planned offer.
The final pricing of the deal is expected to be announced on Oct. 3. Aston Martin shares will be admitted to the London Stock Exchange on Oct. 8.
Kuwaiti investors Primewagon, Asmar and Adeem hold approximately 57% of the voting shares of Aston Martin, while Investindustrial holds around 38% of shares. German car maker Daimler DAI, +0.57% which owns nonvoting shares equal to 4.9% of the ordinary equity, will maintain its holding.
Aston Martin reported an 8% rise in revenue for the six months to June 30 to £444.9 million, and a 14% increase in adjusted earnings before interest, tax, depreciation and amortization to £105.9 million.
An expanded version of this report appears on WSJ.com.
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