7th May 2014 11:04
LONDON (Alliance News) - Fastjet PLC Wednesday said it raised GBP3.9 million from its open offer of shares, part of a bigger GBP15 million fundraising it announced last month that included an investment from billionaire Stelios Haji-Ioannou's easyGroup Holdings Ltd.
The Africa-focused low-cost airline said of the 245.8 million shares on offer at a cost of 1.6 pence each, 145.7 million or 59% were taken up, with the rest placed with an institutional investor also at 1.6 pence per share. Fastjet shares were quoted at 1.95 pence Wednesday morning, up 0.08 pence or 4.0%.
In addition to the net proceeds of a GBP11 million placing it completed on April 16, the GBP3.9 million raised will provide further funds for the group's expansion plans and working capital requirements, it said.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
FJET.L