1st Apr 2015 07:10
LONDON (Alliance News) - African low-cost carrier Fastjet PLC on Wednesday confirmed earlier press reports that it is set to launch a fundraising to back its expansion plans.
The Times reported on Tuesday that the company is set to raise around USD75 million via a bookbuild, which it claimed could start this week. The value of the fundraising would be around three times Fastjet's current market value.
Fastjet confirmed it is in talks with potential investors and will provide an update on the plans in due course.
Shares in the company were down 2.1% to 1.15 pence in early trade, having opened down around 7%.
By Sam Unsted; [email protected]; @SamUAtAlliance
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