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Tesla launches second $5b share sale in three months

Tesla Inc unveiled a $5 billion capital raise on Tuesday, its second such move in three months as the electric-car maker cashes in on a stellar rise in its shares this year.

The company's shares touched a record high on Monday, pushing Tesla's market value above $600 billion and further cementing its position as the most valuable auto company in the world despite production that is a fraction of rivals such as Toyota Motor, Volkswagen and General Motors.

Ten major banks will conduct the sale, the carmaker said in a filing.

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Tesla launches second $5b share sale in three months

Tesla Inc unveiled a $5 billion capital raise on Tuesday, its second such move in three months as the electric-car maker cashes in on a stellar rise in its shares this year.

The company's shares touched a record high on Monday, pushing Tesla's market value above $600 billion and further cementing its position as the most valuable auto company in the world despite production that is a fraction of rivals such as Toyota Motor, Volkswagen and General Motors.

Ten major banks will conduct the sale, the carmaker said in a filing.

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