Fastjet raises 11 million pounds through share placement
(Reuters) - African budget airline Fastjet Plc (FJET.L) said it raised 11 million pounds ($18.42 million) through a private placement of shares, including a 1 million pound investment from a unit of easyGroup Holdings.
The offering of 687.5 million shares was priced at 1.6 pence per share, representing a discount of 11.1 percent to the stock's closing on Wednesday.
The placement will more than double the number of the company's shares.
The airline, which aspires to be the first pan-African low-cost carrier, had said earlier this month it was in talks with a number of potential investors including easyGroup, the private investment vehicle of billionaire Stelios Haji-Ioannou.
Fastjet shares were trading down 4 percent at 1.7 pence at 1451 GMT on the London Stock Exchange.
($1 = 0.5971 British Pounds)
(Reporting by Aastha Agnihotri in Bangalore; Editing by Savio D'Souza)
- 'Weird Al' Yankovic still trying to wrap head around No. 1 album
- French warplanes search Mali desert for crashed Air Algerie plane |
- World's oldest joke traced back to 1900 BC
- Wreckage of Air Algerie plane carrying 116 people found in Mali |
- Crunch time for Gaza truce talks as death toll passes 800 |