EasyJet reports it owns 93% of the $1.6 billion rights issue

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FILE PHOTO: EasyJet planes are parked in a parking lot during the official opening of the new Berlin Brandenburg Airport (BER) “Willi Brandt” in Schönfeld near Berlin, Germany on October 31, 2020. Reuters / Hannibal Hansuke / Pool / FILE PHOTO

September 28, 2021

Sarah Young

LONDON (Reuters) – British airline EasyJet has 93 new shares in a 1.2 billion pound ($1.64 billion) rights issue issued by investors to tide over the pandemic. Said he bought %.

The airline revealed that it had rejected an unnamed mover’s takeover approach, believed to be its low-cost rival Wizz Air, while as well as a second cash advance for 18 months earlier this month for COVID-19. was calling. declare.

EasyJet CEO Johan Lundgren will have access to new opportunities that may arise as an airline, such as British Airways owner IAG, Air France-KLM, and Lufthansa clearance, with additional funding. I said it would.

“Thanks to investors’ support, this successful capital increase will allow EasyJet to strengthen its balance sheet and accelerate its recovery plans after COVID 19,” he said in a statement on Tuesday.

The family of founder Stelios Haji Ioanno, the airline’s largest shareholder, has decided not to participate in the rights issue, which was down 25% when it went public at 0800 GMT on Tuesday, to nearly 15%. This is a schedule.

The founders have clashed with management over their development plans in the past.

Shares of EasyJet fell 3% in early trading after underwriters such as Credit Suisse, BNP Paribas and Goldman Sachs announced they would sell the remaining 21 million shares through an accelerated bookbuild 686 that turned out to be a pence. He closed the book at 0655 Greenwich Mean Time and said he oversubscribed at 690p.

($1 = 0.7311 pounds)

(Reporting by Sarah Young and Paul Sandals, Edited by Kate Holton and Jason Neely)

EasyJet reports it owns 93% of the $1.6 billion rights issue

Source link EasyJet reports that it owns 93% of the $1.6 billion rights issue

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