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Evening Standard
Evening Standard
Business
Michael Hunter

Aston Martin raises over $1.15 billion in new capital as Saudis take stake

Aston Aston Martin PIF

Shares rise in Aston Martin on news of its plan to raise capital (Ben Birchall/PA)

(Picture: PA Wire)

Aston Martin, the world-famous sportscar maker, is to raise £653 million in fresh capital to pay down debt and invest in the next generation of electric vehicles.

The company -- best known for supplying cars to the James Bond movies -- is selling over 23 million news shares to Saudi Arabia’s sovereign wealth fund PIF, which will become its second-largest shareholder.

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