Aston Martin races to £4.3bn valuation but trades down
Bookrunners on Aston Martin's IPO priced the landmark transaction at £19 ($24.71) a share on Wednesday, a boon for the company and a sign that markets backed its ambitious growth strategy. But the stock has traded down in the aftermarket.
Deutsche Bank, Goldman Sachs and JP Morgan are global co-ordinators, and Bank of America Merrill Lynch, Credit Suisse, HSBC and UniCredit are bookrunners on the all secondary IPO. Lazard is an adviser to the UK car maker.
The selling shareholders were Investindustrial, Adeem Investments, Primewagon Capital and the firm’s senior management....
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