The stock market has given James Bond carmaker Aston Martin a frosty reception
LONDON — Shares in luxury car maker Aston Martin dropped below their IPO offer price on the first day of dealing in London on Wednesday.
Aston Martin, famous for making James Bond’s cars, priced its shares at £19 in its initial public offering on the London Stock Exchange. It valued the business at £4.3 billion. After reaching an early high of £19.15, shares had dropped to £18.4080 as of 8.40 a.m. GMT (3.40 a.m. ET) on the London Stock Exchange.
The dip comes despite the fact that Aston Martin had already priced shares on the lower end of its guided IPO range. The carmaker had initially hoped it could sell shares for as much as £22.50 a piece.
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