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By Kate Holton and Dasha Afanasieva
LONDON (Reuters) – British luxury automaker Aston Martin has lowered the upper end of its initial public offering to 20 pounds a share, giving it a potential market value of up to $ 4.6 billion, following mixed investor reactions .
Aston Martin had originally set a range of 17.50 pounds to 22.50 pounds per share, but said Monday that she had brought it back to 18.50 pounds to 20 pounds and that she had enough auction to cover all shares sold at this level.
"The reactions have been mixed," said one person familiar with the deal, saying investors were worried about running the rollout of new models, but were impressed by the management.
"The bottom of the range is the only level that could work."
Aston Martin, famous for making the sports car driven by secret agent James Bond, said he planned to close the IPO books on Tuesday in London.
Bankers say that IPOs typically need twice as many offers as the actions proposed to succeed.
Several IPOs of several billion Europeans started cautiously last week when the Crowdfunding Funding Circle (FCH.L) funding platform gave way while the Swiss packaging company SIG Combibloc (SIGNC.S) registered gains.
On Monday, German brake manufacturer Knorr-Bremse also announced that it has called for tenders for all the actions proposed during its IPO scheduled for the end of the month.
Based on approximately 57 million shares sold, a 25% float, the listing would give the company a market capitalization of approximately 4.6 billion pounds.
Depending on where the prices are in the range, Aston Martin may well end up in the FTSE 100 after its IPO and will be the first automaker to climb to the top spot since Jaguar.
The company sells about 25% of its stock at the first IPO of a British car manufacturer for decades.
The IPO follows on the sale of shares by its main owners, the Kuwaiti and Italian private equity groups.
(Edited by James Davey and Alexander Smith)
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