Car maker Aston Martin needs a £576m injection | City & Business | Finance

Car maker Aston Martin needs a £576m injection | City & Business | Finance


The luxury firm offered new shares at a hefty discount to net the funds.

It said it would use the extra cash to cut debts and boost its balance sheet.

The rights issue is part of a previously announced equity raising of £653.8million, making Saudi Arabia’s Public Investment Fund one of the company’s largest shareholders.

Russ Mould, investment director at broker AJ Bell, said: “This might simply be Aston Martin finding another piece of frayed rope to keep it afloat and avoid sinking completely into quicksand.”





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Author: Shirley