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EasyJet reports that it accounts for 93% of $ 1.6 billion rights issues

File photo: EasyJet planes will be parked at the parking lot on October 31, 2020, during the official opening of the new Berlin Brandenburg Airport (BER) “Willy Brandt” in Schönefeld, near Berlin, Germany.Reuters / Hannibal Hanshuke / Pool / File Photo

September 28, 2021

Sarah Young

London (Reuters)-British airline easyJet has 93 new shares for sale in a £ 1.2 billion ($ 1.64 billion) rights issue by investors to fund their recovery from the pandemic. Said that he bought%.

The airline revealed that it had rejected a takeover approach from an unnamed suitor, believed to be its low-cost rival Wizz Air, while at the same time making a second cash call for COVID-19 for 18 months earlier this month. Announced.

EasyJet CEO Johan Lundgren will have access to new opportunities that may arise as an airline, such as British Airways owners IAG, Air France-KLM, and Lufthansa withdrawal, with additional funding. I said that it will be.

“Thanks to a great deal of investor support, this successful capital increase will allow easyJet to strengthen its balance sheet and accelerate its recovery plans after COVID 19,” he said in a statement on Tuesday.

The family of founder Stelios Haji Ioano, the airline’s largest shareholder, has decided not to participate in a rights issue, down from 25% when the shares went public at 0800 GMT on Tuesday to about 15%. It’s a schedule.

The founders have clashed with management over their growth plans in the past.

EasyJet shares fell 3% in early trading after underwriters such as Credit Suisse, BNP Paribas and Goldman Sachs announced they would sell the remaining 21 million shares through an accelerated bookbuild 686 It became a pence. They closed the book at 0655 Greenwich Mean Time and said they oversubscribed at 690p.

($ 1 = 0.7311 pounds)

(Report by Sarah Young and Paul Sandle, edited by Kate Holton and Jason Neely)



EasyJet reports that it accounts for 93% of $ 1.6 billion rights issues

Source link EasyJet reports that it accounts for 93% of $ 1.6 billion rights issues

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