This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/business-45729921
The article has changed 7 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Aston Martin sells shares on the London stock market | |
| (35 minutes later) | |
| Shares in luxury carmaker Aston Martin have been priced at £19 a share, valuing the firm at £4.3bn. | Shares in luxury carmaker Aston Martin have been priced at £19 a share, valuing the firm at £4.3bn. |
| The price is just below the middle of the range of between £17.50 and £22.50 it hoped to sell them at. | The price is just below the middle of the range of between £17.50 and £22.50 it hoped to sell them at. |
| The company, which has a long link with James Bond films, has gone bust seven times in its 105 year history. | The company, which has a long link with James Bond films, has gone bust seven times in its 105 year history. |
| The listing is the first by a UK carmaker for years, following the sale of brands such as Jaguar, Bentley and Rolls-Royce to foreign owners. | The listing is the first by a UK carmaker for years, following the sale of brands such as Jaguar, Bentley and Rolls-Royce to foreign owners. |
| The shares are currently trading on a conditional basis, an introductory and more limited period of trading applied to newly listed shares. At one point they were down 4%. | The shares are currently trading on a conditional basis, an introductory and more limited period of trading applied to newly listed shares. At one point they were down 4%. |
| Full trading gets underway on Monday. | Full trading gets underway on Monday. |
| The share sale will raise at least £1bn for the firm. Aston has a further number of shares it will release if demand is strong enough, which would mean 27% of the company would be publicly traded. | The share sale will raise at least £1bn for the firm. Aston has a further number of shares it will release if demand is strong enough, which would mean 27% of the company would be publicly traded. |
| Andy Palmer, president and group chief executive, said the move was an historic moment: "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." | Andy Palmer, president and group chief executive, said the move was an historic moment: "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." |
| In August, Aston Martin reported half-year profits of £42m. | In August, Aston Martin reported half-year profits of £42m. |
| Despite an illustrious history and a brand name synonymous with 007 films, Aston Martin had struggled for decades to make a profit. | Despite an illustrious history and a brand name synonymous with 007 films, Aston Martin had struggled for decades to make a profit. |
| New markets | New markets |
| But under Mr Palmer, a former Nissan executive, the company has been broadening its product range and has moved into new areas. | But under Mr Palmer, a former Nissan executive, the company has been broadening its product range and has moved into new areas. |
| Aston's projects include building an electric flying car, luxury homes in the US, and even a personal submarine. | Aston's projects include building an electric flying car, luxury homes in the US, and even a personal submarine. |
| It expects full-year sales for 2018 to rise to between 6,200 and 6,400 units, and in the medium-term it aims to build nearly 10,000 in the 2020 calendar year. | It expects full-year sales for 2018 to rise to between 6,200 and 6,400 units, and in the medium-term it aims to build nearly 10,000 in the 2020 calendar year. |
| Part of its turnaround strategy strategy involved targeting female buyers - no easy task given the company has sold fewer than 4,000 cars to women in its 105-year history. | Part of its turnaround strategy strategy involved targeting female buyers - no easy task given the company has sold fewer than 4,000 cars to women in its 105-year history. |