Aston Martin is expected to price its U.K. initial public offering at 19 pounds (US$24.66) per share, toward the bottom of a marketed range that it had already narrowed, according to people familiar with the matter.

The final price is due to be announced Wednesday morning in London, with shares set to make their trading debut on the London Stock Exchange shortly afterward. The luxury carmaker pared back its IPO ambitions this week, narrowing the targeted range and reducing the top end of the pricing by about 11 per cent. The reduced range was 18.50 to 20 pounds per share, according to an emailed term sheet.

A representative for Aston Martin declined to comment. Books on the offering closed at noon in London.

An IPO at 19 pounds would value the British marque, made famous for its inclusion in the James Bond series of spy films, at 4.31 billion pounds, about 15 per cent less than its initial maximum target. That’s about 20.7 times the company’s first-half profit, according to data compiled by Bloomberg.

Rival Ferrari NV, maker of the US$1.8 million Monza supercar, trades at about 21 times expected adjusted profit for 2018, the data show -- a figure that’s more in line with luxury good companies than other automakers.

Gaydon, England-based Aston Martin, which is less profitable and carries a weaker balance sheet than its Italian peer, is attempting to build up its presence in the sports car world with its Vanquish, Vantage and DB models, while reincarnating the Lagonda name to break into the segment currently shared by British rivals Rolls-Royce Motors and Bentley.

Wednesday’s listing will mark the first initial public offering of a U.K. carmaker in more than three decades, since Jaguar Land Rover was spun into an independent company under Margaret Thatcher’s government in 1984.