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Tesla Announces $ 5 Billion Additional Share Issue

North America / Business and Finance
Tesla Announces $ 5 Billion Additional Share Issue

American electric vehicle manufacturer Tesla has announced plans to conduct a $ 5 billion additional share market through major Wall Street brokers.

After the publication of this message, the company's shares continued to rise in price, although the growth rate slowed down to 2.6% from 8% at the beginning of the session.

The placement agents will include leading banks such as Goldman Sachs, Bank of America Securities, Citigroup Global Markets and Morgan Stanley, writes The New York Times.

The additional issue was announced the day after a 5-to-1 split of Tesla shares took place. The company's capitalization jumped 12.6% on Monday, and reached a record amid high trading activity.

As a result, the market value of Tesla ($ 464.3 billion) exceeded the capitalization of Visa Inc. (451.1 billion), according to Dow Jones Market Data. Currently, in the Standard & Poor 's 500 stock index, only six companies surpass Tesla in terms of capitalization.

Over the past three months, the stock quotes of the manufacturer of electric vehicles soared by about 200%, since the beginning of this year - by 500%. The S&P 500 has increased by 15% and 8%, respectively, over these periods.

Elon Musk has repeatedly assured investors over the past year that Tesla will not need to raise additional money for costly initiatives, including building its first plant in Europe and recently announced construction of a new plant near Austin, Texas.

However, in February, the company announced plans to raise $ 2 billion in its share placement.

Tesla has released a video of the Gigafactory 3 assembly line in Shanghai, which allows you to evaluate the manufacturability of the brand's electric vehicles. A short video clearly demonstrates that people in production are already playing a supporting role, and the main tasks are performed by robots.

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