China’s Geely invests $295 million in Aston Martin, shares soar
By James Morin May 19, 2023 Latest News 0 Comments
May 18 (Reuters) – Aston Martin Lagonda said on Thursday that Geely Automobile Holdings Ltd had committed to invest around £234m ($295.33m) in the British luxury car maker, making the Chinese automaker the third largest shareholder.
As part of the investment, Geely will acquire approximately 42 million shares of Yew Tree common stock at 335p a share and subscribe for a further 28 million shares at the same price.
Aston Martin shares were up 14% as of 5:19 p.m. Thursday, trading a 25% jump during the session.
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