Tesla set up commission for “withdrawal from stock market”

Tesla, an international electric car maker and energy storage firm in the US, announced that it has established a commission to investigate the decision to withdraw from the New York stock exchange.

In an announcement from Tesla, it was stated that the board of directors formed a special commission of 3 people to evaluate the “stock exchange withdrawal” proposal announced by Elon Musk, the company’s top executive, last week.

In the statement, it is noted that the special commission has not yet received advice from Musk’s to withdraw from the stock market.

On the other hand, Musk announced yesterday evening that his US investment banking giant Goldman Sachs will provide financial advice on Tesla’s withdrawal from the stock market.

After Tesla completes the price of 356.41 dollars per share in the New York stock market, it declined 1.6 percent to 350.50 dollars today.

Musk reported last week that he was considering withdrawing Tesla from the New York stock market at 420 dollars per share.

In a statement yesterday, Musk said that Saudi Arabia’s asset fund has enough capital to attract Tesla from the stock market, and recently reported that Tesla’s 5 percent stake in the stock was bought by the Fund.

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