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This morning, luxury sports car manufacturer Aston Martin launched its initial public offering (IPO) on the London Stock Exchange, following an announcement made on September 10. The company is now publicly traded under the name “Aston Martin Lagonda Global Holdings PLC,” with the ticker symbol AML. The IPO was priced at £19 (approximately $24.70). With 57 million shares listed, this represents about 25 percent of the company’s total valuation of $5.6 billion.
In a statement from the London Stock Exchange, CEO Andy Palmer emphasized the significance of this listing, calling it a “historic milestone” for Aston Martin Lagonda. He expressed satisfaction with the positive response from global investors and welcomed new shareholders. Palmer noted that the company is energized by its current momentum and remains committed to executing its ambitious growth strategy, known as the Second Century Plan.
Aston Martin has been in the spotlight in recent years for revitalizing its product lineup, introducing new models like the Vantage and various versions of the DB11. Moreover, the automaker is venturing into electrification with its Lagonda sub-brand and has teamed up with engine manufacturer Cosworth to develop the Vulcan hyper-hybrid.
On the first day of trading, investors had mixed reactions to the stock. After opening at £19, the price remained steady for about 20 minutes before beginning to decline. At 1:20 p.m. London time, the stock reached its lowest point at £17.45, marking a drop of 8.2 percent. By the end of the trading session, Aston Martin partially rebounded, closing at £18.10, which was 5 percent lower than its opening price..
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