Saudi Arabia’s Public Funding Fund is in early talks with Aston Martin about taking a stake within the enterprise that might be value 200 million kilos ($243.5 million), the Monetary Instances reported.

Shares in Aston Martin, which had fallen as a lot as 20 p.c to a document low on Thursday, trimmed losses to commerce 9 p.c decrease by 16.02 CET after the group stopped in need of confirming or denying the media studies.

Aston Martin as an alternative stated it often retains its funding choices below evaluate.

Aston Martin has had a bumpy experience since its preliminary public providing in late 2018.

Shares within the London-listed automaker have fallen practically 68 p.c up to now this yr.

In January, Aston Martin warned of lower-than-expected revenue because of delays in shipments of its limited-edition Valkyrie sports activities automobile.

The corporate stated on Thursday manufacturing of Valkyrie continues to choose up tempo, whereas its administration group, which incorporates new boss Amedeo Felisa, was more and more targeted on new mannequin launches from 2023 onwards.

The FT, citing 4 individuals, stated Aston Martin was in search of to boost extra funding for its subsequent vary of automobiles.

Autocar late on Wednesday additionally reported the automaker was in search of to boost funds, saying there have been two main contenders, together with one linked to the Saudi fund and one other to an funding fund based mostly in america.

PIF didn’t instantly reply to a request for touch upon the media studies.

The Method One group of Aston Martin, whose high shareholder is Chairman Lawrence Stroll and second largest investor is Mercedes Benz, has an present partnership with Saudi’s Aramco, together with group sponsorship rights and a licensing deal.