aston: Last month Aston Martin had guided that shares would initially be priced at between 17.50 and 22.50 a share but on Monday it narrowed the range to between 18.50 and 20 a share, according to The Guardian. Andy Palmer, the chief executive, said he was focused on the long-term outlook for the business and not the share price on the first day of trading. The share price fall on Wednesday left the 105-year-old firm, James Bond's favourite car marque, with a market value of just above 4bn, sharply lower than its initial hopes for a price tag of over 5bn. Describing the flotation as a historic milestone for Aston Martin, he added We've taken 105 years to get to an IPO initial public offering . I don't think we'll worry about what the shares are doing initially. Aston Martin sold about 25% of its stock, with the offer open to institutional investors, company staff, customers and members of the Aston Martin Owners Club resident in the UK. Private investors will be eligible to buy shares from Monday. We'll always look over the longer term.
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