Car maker’s share price accelerates after £500m lifeline

Aston Martin’s share price rose by over a fifth on Friday trading after the firm announced it is set to receive a £500m lifeline.

Shares in the car maker were changing hands for almost 500p by the close of the markets on Friday night.

The move comes after F1 team boss Lawrence Stroll bought £182m worth of shares last week – and a place on Aston Martim’s board. The firm also confirmed it will launch a shares issue to raise the remaining £318m.

Andy Palmer, Aston Martin Lagonda president and Group chief executive, said: “Today’s fundraising is necessary and provides a platform to support the long-term future of the company. Mr Stroll brings strong and proven expertise in both automotive and luxury brands more widely which we believe will be of significant benefit to Aston Martin Lagonda.”