3rd Feb 2021 17:22
(Alliance News) - JD Sports Fashion PLC on Wednesday announced a placing to support investment in expanding the company and to capitalise on acquisition opportunities.
The size of the placing has not been disclosed, though the sportswear retailer said placing shares are expected to represent around 6.0% of its existing issued share capital.
The placing, taking place via an accelerated bookbuild process, has launched immediately and the price will be determined at the bookbuild's end.
Peel Hunt LLP and Investec Bank PLC are acting as joint global co-coordinators and joint bookrunners for the placing.
JD Sports said placing proceeds will be used, along with its available cash resources - GBP1.00 billion at December 2020 - and debt facilities "to capitalise on the acquisition opportunities available and invest further in the international expansion of the group."
Shares in JD Sports closed 0.2% higher at 816.45 pence in London on Wednesday.
By Anna Farley; [email protected]
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