Rocket Maker Avio Seeks €400 Million New Funds for Expansion

Italian rocket maker Avio SpA will seek to raise as much as €400 million ($469.5 million) of new equity from its shareholders to strengthen its satellite-launch business.

Avio’s board met Thursday and unanimously approved the new business plan, according to a statement. The proposal for a capital increase will be submitted at a shareholders meeting on Oct. 23.