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Retail

UK fashion retailer ASOS raises 247 million pounds in placing

FILE PHOTO: A model walks on an in-house catwalk at ASOS in London April 1, 2014. REUTERS/Suzanne Plunkett/File Photo

LONDON (Reuters) - British online fashion retailer ASOS Plc ASOS.L said it had raised 247 million pounds ($304 million) via a placing, to help it shore up its finances in case of a prolonged business downturn from the coronavirus pandemic.

ASOS, which said on Tuesday it was planning the equity raising, said on Wednesday it had placed 15.8 million new shares at a price of 15.60 pounds per share, equivalent to 18.8% of its ordinary share capital prior to the placing.

Reporting by Sarah Young; editing by Jason Neely

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