Home Business NewsBusinessAutomotive News Aston Martin taps shareholders for rescue cash

Aston Martin taps shareholders for rescue cash

by LLB Editor
31st Jan 20 7:17 am

Aston Martin Lagonda, the struggling luxury car maker, has confirmed plans to raise £500m to immediately reduce “severe pressure on liquidity”.

The company said it will raise £182m through a private placement of shares priced at £4.00 each.

It will tap its shareholders for an additional £318m through a rights issue.

The maker of James Bond’s favourite car has struggled since it floated on the London Stock Exchange in October 2018, when its shares were priced at £19.

Its shares are currently trading at 402.7p.

Earlier the month, it warned on profits following a “very disappointing” 2019.

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