Luxury automotive and technology company McLaren Group announces it is issuing new equity capital.
A capital injection of £203.8m is being made by Nidala (BVI) Limited to purchase 888,135 ordinary shares in McLaren Group Limited. The proceeds for the new capital will be received over the coming year. This new capital, which is part of the Group’s simplification over the last 12 months, will significantly strengthen the Group’s balance sheet and underpins its ambitious growth plans laid out in its five-year business plan.
McLaren Group encompasses the McLaren Automotive, McLaren Racing and McLaren Applied Technologies companies following the merger of McLaren Automotive and McLaren Technology Group in July 2017 to enhance synergies.
Shaikh Mohammed bin Essa Al Khalifa, McLaren Group Executive Chairman, explained: “This injection of capital is a vote of confidence in our future strategy and the Group remains as focused as ever in positioning for growth.”