Aston Martin braves battered markets to launch rights issue

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By Sam Kerr
27 Feb 2020

Aston Martin, the UK automobile manufacturer, has launched its £317m ($408.78m) rights issue as part of an overall £500m equity raise. The funding is part of a strategic turnaround plan for the misfiring company, and comes despite markets being spooked over the spread of the Covid-19 coronavirus.

Deutsche Bank, JP Morgan and Morgan Stanley are global coordinators on the fully underwritten rights issue.

Shareholders are being offered 14 new shares for every 25 owned at an offer price of 207p a share, a 47% discount to the last trade before the announcement ...

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