Aston Martin cuts maximum share price for IPO | Financial Times

Aston Martin cuts maximum share price for IPO | Financial Times:

Aston Martin could miss out on a spot in the FTSE 100 after the carmaker cut the maximum valuation it is seeking in its initial public offering this week.

The carmaker cut the top of its price range from £22.50 a share to £20. It also lifted the bottom end of the range from £17.50 to £18.50. All of the books are covered within the new range.

The new range gives the luxury carmaker an expected valuation of £4.2bn — £4.5bn, compared to its prior expected valuation of between £4-5.1bn. That value could see Aston Martin miss out on a place in the FTSE 100 at the next reshuffle in December, if its value and the value of the other constituents of the index remain broadly the same.