1st Oct 2020 21:47
(Alliance News) -Â Tui AG on Thursday said it is mulling a capital raise "significantly lower" than the amount mentioned in press reports.
The Anglo-German tour operator said it continues to evaluate various measures to achieve "an optimal balance sheet structure and maturity profile" against the backdrop of a volatile market environment caused by Covid-19.
Among the measures currently being considered is a "short to mid-term capital increase", the travel firm said, which, if implemented, would be "significantly lower than the EUR1-1.5 billion mentioned in the press".
"A decision on whether such a measure will be implemented has not yet been made. The timing and volume of such a measure have also not yet been determined," Tui said.
German language publication Handelsblatt in mid-September reported Tui was poised to announce plans to secure between EUR700 million and EUR1 billion in an equity raise.
Shares in Tui closed down 0.6% at EUR291.20 in London on Thursday.
By Lucy Heming;Â [email protected]
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