Aston Martin value slumps after its first day on the stock market
05-Oct-2018 • Bond News
James Bond's favourite car manufacturer, Aston Martin, saw its company value slump after just one day on the stock market.
Yesterday, Aston Martin floated on the stock exchange and became a public company once again with an initial offer price of £19. At the close of trading today, that had dropped to £17.49 - an 8% decrease.
That drop means the company is worth £3.96 billion, a far cry from its initial top-end valuation of £5.1b billion.
Chief executive Andy Palmer said: “Today's listing on the London Stock Exchange represents a historic milestone for Aston Martin Lagonda. 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."
