(Reuters) -Zhejiang Geely Holding Group Chairman Li Shufu is considering raising the company’s stake in British luxury carmaker Aston Martin to up to 10%, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The Chinese automotive company had acquired a 7.6% stake in Aston Martin last month. Based on Aston’s closing share price on Sept. 29, the stake was valued at 66.6 million pounds ($74.64 million)
Geely acquired the stake two months after Aston Martin announced a fundraise that saw Saudi Arabia’s Public Investment Fund (PIF), which now owns 18.6% of the company, become its second-largest shareholder.
Aston Martin shares ended 2% higher at 104.5 pence.
Aston and Geely did not immediately respond to Reuters’ requests for comment.
($1 = 0.8923 pounds)
(Reporting by Muhammed Husain in Bengaluru; Editing by Arun Koyyur and Vinay Dwivedi)
