Aston Martin raises $277 million via equity to cut debt

(Reuters) – Aston Martin said on Tuesday it has raised 216 million pounds ($277 million) in equity to cut down its expensive debt.

The company offered 58.2 million new shares at 371 pence per share, representing a 6.2% discount to the stock’s closing price on Monday. ($1 = 0.7798 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Savio D’Souza)