Gogoro rises following $50 mln investment by Castrol

Gogoro

25/06/2024 17:12

** U.S.-listed shares of electric scooter maker Gogoro
 GGR.O  up 13.5% at $1.60 
    ** The Taiwan-based co says Castrol to invest $50 mln in two
tranches 
    ** First tranche of the investment would be $25 mln that
would result in Castrol acquiring about 5.72% of Gogoro's
outstanding ordinary shares
    ** Second tranche will be in the form of a convertible note
- GGR 
    ** "Gogoro is a global leader in two-wheeler battery
swapping and our investment in Gogoro is a strategic step
towards diversifying our portfolio," Castrol CEO Michelle Jou
says 
    ** Including the session's gains, GGR is down ~38% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))