27th Oct 2015 07:39
LONDON (Alliance News) - BBA Aviation PLC on Tuesday said it received valid acceptances for 97.7% of shares to be issued under its rights issue.
The six-for-five rights issue of 562.3 million shares at 133 pence each closed for acceptances on Monday.
Under the underwriting agreement, JP Morgan Securities PLC, JP Morgan Cazenove, and Jefferies International Ltd will find subscribers for the remaining 12.9 million shares not validly taken up, failing which JP Morgan Cazenove, Jefferies, Barclays Bank PLC and HSBC Bank PLC will acquire the remaining shares.
The aircraft services company announced in September that it would raise around GBP748.0 million via a rights issue in order to acquire US rival Landmark Aviation for USD2.07 billion.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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