Aston Martin seeks valuation of up to £5bn in London IPO | Financial Times

Aston Martin seeks valuation of up to £5bn in London IPO | Financial Times:

Aston Martin is targeting a valuation of between £4bn and £5bn when it lists its shares on the London Stock Exchange next month, as the British luxury carmaker aims for a similarly racy earnings multiple to Ferrari.

The shares will be priced between £17.50 and £22.50 each, and will begin trading on October 3, the company has announced. The top end of the range would put Aston on 24 times 2017 earnings; Ferrari trades at 22 times.

“We have seen almost unprecedented investor interest,” Andy Palmer, chief executive, told the Financial Times.