26th Jan 2021 06:57
(Alliance News) - JD Sports Fashion PLC is in talks over an around GBP400 million share sale to fund its expansion, Sky News reported on Monday.
Sky said it had learned that the JD Sports board were "considering launching an equity placing as soon as this week" with the size not yet determined but "in the region of GBP400 million, according to one insider."
Should the Manchester-based trainer and sports fashion retailer succeed in its fundraise, then the money will help restock what Sky called its "takeover war chest" after December's USD681 million Shoe Palace buy.
"City sources cautioned on Monday night that the capital-raising was by no means certain to proceed, and that JD Sports' directors retained the option of calling a halt to their deliberations," reported Sky.
https://news.sky.com/story/jd-sports-fashion-plots-400m-share-sale-to-bolster-deals-warchest-12198844
By Anna Farley; [email protected]
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