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Saab Sells 5 Million Shares!!

Monday, August 8, 2011

Exactly a month ago to this day, Saab announced a deal with China's Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co while also revealing a grand plan for expanding its range with three new models, the 9-1, 9-6X and 9-7. It also delivered its first 9-4X in the USAll’s well that ends well, right?

Well, in Saab’s case it looks like we haven’t seen the end just yet. The Swedish firm continues to face a cash-flow problem. Thus, it issued a press release concerning the subscription notice for 5 million shares under a €150 million agreement between Swan and GEM Global Yield Fund Limited.
In other words, the Swedish company is offering a part of its shares for sale, with their price determined on a 10-day pricing period that commenced on August 3.
Saab also said that it expects to pay its white-collar workers' delayed salaries by Friday.Meanwhile it continues negotiations with other parties in order to restart production at the end of August and to fulfill the 11,000 orders it claims it already has received.

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