Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Aston Martin launches £575m rights issue powered by Saudi Crown Prince MBS

by September 5, 2022
September 5, 2022
Aston Martin launches £575m rights issue powered by Saudi Crown Prince MBS

Luxury car maker Aston Martin has confirmed that a £575m rights issue, which will be supported by a fund controlled by Saudi Arabia’s de facto leader.

It told shareholders on Monday that it will launch the rights issue – a share offer to current investors intended to raise new cash – as part of a previously announced £653m fundraising move.

Aston Martin said the new funding will be used to pay down its debts and to improve the firm’s liquidity.

The car manufacturer said its rights issue has received “irrevocable commitments” from investors including Saudi Arabia’s Public Investment Fund (PIF), the Yew Tree Consortium and Mercedes-Benz.

PIF, which is controlled by Crown Prince Mohammed bin Salman, is Saudi Arabia’s sovereign wealth fund, one of the biggest in the world.

It has around half a trillion dollars to throw around, though its investments often court controversy.

The fund’s takeover of Newcastle United Football Club last year – it provided 80% of the cash for the deal – sparked protests outside the Premier League side’s stadium over Saudi Arabia’s human rights abuses.

It is understood that PIF will become the company’s second largest shareholder following the fundraising.

Aston Martin said shareholders representing over a third of the company’s share capital have said they will vote in favour of the rights issue ahead of its general meeting on Thursday.

The car maker’s board said it believes the capital raise can support its targets of approximately 10,000 wholesale sales, £2 billion in revenues and £500 million in adjusted earnings by the 2024-25 financial year.

Read more:
Aston Martin launches £575m rights issue powered by Saudi Crown Prince MBS

0
FacebookTwitterGoogle +Pinterest
previous post
Liz Truss announced as new leader of the Conservative party and Prime Minister
next post
Cryptocurrency must be made less energy intensive to protect the planet says new report

You may also like

Best Areas in London to Live​​

September 9, 2022

3 Transformative CEOs and How They Are Tackling...

January 31, 2023

Exploring Walking Trainers for the UK Market: Design...

June 18, 2025

Advantages of choosing a PET bottles manufacturer

August 3, 2024

Jaguar Land Rover Boosts EV Mechanic Training to...

May 30, 2024

Labour’s farm tax reforms could cost Treasury £2bn,...

June 3, 2025

IWG adds over 600 new partnership locations as...

October 10, 2023

The do’s and don’ts of the office Christmas...

November 24, 2022

Book Bodega of Ramsgate turns new page with...

February 28, 2023

Uber expands free childcare support to over 100,000...

March 24, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • XRP price prediction hits new highs, GMO Miner helps you earn $6,800 a day

      August 28, 2025
    • West End retailers lose £310m from VAT-free shopping ban in first half of year

      August 28, 2025
    • Dollar slips as Trump moves to sack Fed governor Lisa Cook in unprecedented clash over central bank independence

      August 28, 2025
    • CDC Director Susan Monarez refuses to be fired as other officials call it quits

      August 28, 2025
    • Bill Gates met with Trump to talk ‘importance of US global health programs and health research’: spox

      August 28, 2025
    • Trump asks SCOTUS to uphold freeze on billions in USAID payments

      August 27, 2025

    Categories

    • Business (8,900)
    • Investing (2,246)
    • Politics (16,503)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved