Aston Martin announces $660 million rights issue backed by Saudi Arabia’s PIF – The National
- Date: 05-Sep-2022
- Source: The National
- Sector:Financial Markets
- Country:Saudi Arabia
Aston Martin announces $660 million rights issue backed by Saudi Arabia’s PIF – The National
Luxury car maker Aston Martin has announced a £575.8 million ($660m) rights issue, with the backing of investors that include Saudi Arabia's Public Investment Fund, Mercedes Benz and the Yew Tree Consortium.
The company will issue 23.3 million new shares to PIF, the kingdom's sovereign wealth fund, at £3.35 a share, giving it a 17 per cent stake, Aston Martin said on Monday in a filing to the London Stock Exchange.
The filing said PIF had undertaken to take up 100 per cent of its entitlement under the rights issue.
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