StockMarketWire.com - Luxury carmaker Aston Martin said it had priced its initial public offering at £19 a share, representing a market valuation of £4.33bn ahead of its public listing debut on Wednesday.

The carmaker had on Monday reduced its price range for the float to between £18.50 and £20.00 per share, down from a previous range of between £17.50 and £22.50.

The shares fell by as much as 6.6% in early trading Wednesday.

Existing shareholders including Investindustrial, Adeem Investments and Primewagon and senior management had sold 57m shares, equating to an offer size of £1.08bn, representing 25.0% of Aston Martin Lagonda's issued share capital on admission.

Immediately following admission, the issued share capital of the company would be 228,002,890 shares.

'Today's listing on the London Stock Exchange represents a historic milestone for Aston Martin Lagonda,' chief executive Andy Palmer said.

'We are delighted by the positive response we have received from investors across the world and are very pleased to welcome our new shareholders to the register.'

'We are excited about the momentum across the company and are fully focused on continuing to deliver our exciting growth strategy through the Second Century Plan.'

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