MBG MercedesBenz Group AG

By Kyle Morris

Aston Martin Lagonda Global Holdings PLC said Monday that it is conducting a rights issue worth around 575.8 million pounds ($662.9 million), with the proceeds to be used to pay down debt and support future growth.

The U.K. luxury-car maker said the 4-for-1 fully committed and underwritten rights issue consists of 559 million new shares of 103 pence each, a discount of 79% to the closing price on Sept. 2.

The company said it has irrevocable commitments from PIF, the Yew Tree Consortium and Mercedes-Benz AG to take up their full entitlements, amounting to 44.7% of the issue.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

September 05, 2022 02:34 ET (06:34 GMT)

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