October 2, 2018 / 9:02 AM / 17 days ago

Aston Martin IPO orders below 19 pounds/share risk missing out: bookrunners

(Reuters) - Potential investors offering below 19 pounds per share for shares in luxury British carmaker Aston Martin IPO-ASTM.L risk missing out in the float, two of the bookrunners helping to organize it said on Tuesday.

FILE PHOTO: Andy Palmer, CEO of Aston Martin, poses for a photograph next to the company's new Vantage car in Gaydon, Britain November 20, 2017. REUTERS/Phil Noble

The deadline for orders is 1100 GMT. Aston Martin cut here the upper end of its initial public offering (IPO) price range to 20 pounds per share on Monday, giving it a potential market value of up to 4.6 billion pounds ($6 billion).

FILE PHOTO: An Aston Martin logo is seen at a dealership in central London, Britain August 29, 2018. REUTERS/Henry Nicholls

Aston Martin initially set a range of 17.50 pounds to 22.50 pounds per share for the IPO, but said on it Monday it had narrowed this to 18.50-20 pounds and that it had enough bid interest to cover all the shares being sold at this level.

Aston Martin, famed for making the sports car driven by fictional secret agent James Bond, is selling around 25 percent of its stock in the first IPO by a British carmaker for decades.

Aston Martin’s market debut will be closely watched, after several big European IPOs got off to a cautious start last week when crowd-lending platform Funding Circle (FCH.L) traded down on its debut while Swiss packaging company SIG Combibloc (SIGNC.S) booked gains.

Reporting by Noor Zainab Hussain in Bengaluru; editing by Jason Neely/Keith Weir

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