June 26, 2020 / 6:37 AM / 14 days ago

Aston Martin turns to stock offering to boost capital

June 26 (Reuters) - Aston Martin said on Friday it would issue new shares worth up to 20% of its existing equity capital as the luxury carmaker seeks additional funds to ride out the coronavirus crisis.

New owner Yew Tree will pick up 25% of the offering, with Prestige Motors, which has steadily reduced its holding in the company having previously been the main shareholder, planning to buy about 8%, the company said.

Reporting by Muvija M in Bengaluru; Editing by Anil D'Silva

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