17th Aug 2021 12:03
(Alliance News) - Esken Ltd said Tuesday its shareholders have bought 75.0 million shares from an open offer, which was part of a fundraise to raise gross proceeds of GBP55.0 million.
The Carlisle, Cumberland-based company, whose open offer closed on Monday morning, is an infrastructure, aviation and energy company that owns historic Eddie Stobart brands.
The 75.0 million shares account for 95% of the total offered in the open offer. Esken said that the remaining 3.9 million shares will go to firm placing institutions.
Canaccord Genuity Ltd and UBS AG London Branch acted as joint bookrunners.
"It is pleasing to see the level of support which we have received from our existing shareholders in the open offer," said Chair David Shearer.
"The successful fundraise will give us a sound platform as we emerge from the pandemic."
At the start of July, Esken secured GBP125 million in financing for its Southend Airport unit from Carlyle, giving the private equity a 30% stake in the Essex airport. The followed the collapse of its Stobart Air operation, which Esken had been trying to sell.
Shares in Esken were up 0.3% at 15.42 pence in London on Tuesday.
By Josie O'Brien; [email protected]
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