PrimaryBid was pleased to support FTSE 250 Aston Martin Lagonda Global Holdings plc (LSE:AML), the ultra-luxury, high performance car company, on its recent successful share placing. The proceeds from the placing will allow Aston Martin to further deleverage its balance sheet and support longer term growth.
Aston Martin raised approximately £216 million through a placing to institutional investors and via a Retail offer through PrimaryBid. This marked the second time the company used PrimaryBid to include retail investors in its fundraising.
PrimaryBid’s retail offer was allocated approximately £4 million in a deal that saw strong demand from retail investors in the space of a few hours. Existing shareholders and new investors were able to participate through PrimaryBid's website, app and through its partner network of investment platforms, retail brokers and wealth managers.
“We were pleased to be working with PrimaryBid again to provide a retail offer and to see strong participation from new and existing retail shareholders”, said Doug Lafferty, CFO of Aston Martin.
Already this year, PrimaryBid has worked with a number of FTSE 350 issuers to engage new and existing retail investors including Unite Group plc, Entain plc, Diploma plc, Asos plc London Stock Exchange Group plc and BH Macro plc.
The PrimaryBid Retail Offer was only available to investors in the UK.
Read more about the transaction here.