TESLA

COMPANY WILL HAVE NO TRADED SHARES-UNDERSTAND THE SITUATION

Last week and through its usual social network, Tesla's CEO made a stir as he revealed his intentions to privatize the company and was willing to give $ 420 per share.But the curiosity was not that Elon Musk valued Tesla at $ 71.6 billion, making it the most expensive stock exchange ever, if it materialized, but rather because he had advanced that it had "secured financing".After several Tesla shareholders confirmed to Bloomberg that they were aware of Musk's intentions without however dwelling on the issue of financing, the entrepreneur explained in more detail what he meant by his tweet.In a blog posting of the company, Elon Musk advances that already from the beginning of 2017 that the fund of the Saudi Arabia approach with the intention to take the Tesla of the bag.The last one was July 31, at the same time an agreement was reached for the Public Investment Fund (PIF) to hold a 5% stake in Tesla. At that meeting, the director of the fund "strongly expressed the support to finance Tesla's withdrawal from the stock exchange," which was at the origin of Musk's statement.
Musk also argues in the same publication that making his intentions public was doing the "right thing" for all investors to have access to this information and ensures that he will "continue talks with the Saudi fund."
However, the entrepreneur says he also has discussions with "some other investors," since he would like Tesla to maintain a "broad base of investors." It is only after completing this survey that the CEO tells a more concrete proposal to the board of shareholders.
Among the reasons presented by Elon Musk to withdraw the company from the stock market is the intention to avoid "distractions" that the company's stock market volatility can lift and make the best long-term decisions without investor pressure.



Sapo