The latest fundraising will allow Aston Martin to lower its debt and invest in new models
Aston Martin is raising 575.8 million pounds ($660 million) in a rights issue as major investors including Saudi Arabia’s sovereign wealth fund keep faith with the struggling luxury UK automaker.
The rights issue is part of a previously announced equity raising of 653.8 million pounds, which makes Saudi Arabia’s Public Investment Fund (PIF) one of the company’s largest shareholders.
The company rejected a 1.3-billion-pound investment proposal that would have handed control of the business to Italian investor Investindustrial and Chinese automaker Geely that month.
Read more: Europe AutoNews
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