Aston Martin stock soars after $295 million Geely investment
Geely will acquire about 42 million ordinary shares from Chairman Lawrence Stroll's Yew Tree, currently Aston Martin's largest stakeholder, at 335 pence each and subscribe for another 28 million shares at the same price, raising about 95 million pounds in cash for the British firm.
For Aston Martin, the preferred ride of fictional secret agent James Bond, the investment paves the way to secure its long-term future and cut its net debt, which stood at 868.1 million pounds at end-March.said"They offer us a deep understanding of the key strategic growth market that China represents, as well as the opportunity to access their range of technologies and components," Stroll said about Geely in a statement.
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