12 February 2021 - placing
The company has revealed that the placing announced after the market close last night has been successfully concluded, with the airline group raising gross proceeds of £422m at a price of 1180p. This is a discount of only 9.1% to last night's closing price of 1298p. The fund raising was significantly oversubscribed. The new shares being issued represent 20% of the shares in issue prior to the fundraise and so this is a significant increase in the equity of the company. The proceeds should allow the company to navigate (no pun intended!) its way . . .
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