Ryanair Holdings PLC said Friday that it has raised 400 million euros ($474.1 million) via the share placing announced late Thursday, which will strengthen its financial position as the airline focuses on cash preservation.
The budget airline said it placed 35.2 million shares at EUR11.35, a 2.7% discount to Thursday's closing price of EUR11.66 in London.
Late Thursday Ryanair said it planned to raise around EUR400 million in a share placing with an accelerated bookbuild available to new and existing institutional investors, as it faces the most challenging period in the company's history during the coronavirus pandemic.
The airline said Thursday that the placing would significantly de-risk its debt repayments over the next 12 months. It also said it expects the long-term effects of the pandemic on the sector to create opportunities for the company to grow its network and expand its fleet to take advantage of lower airport and aircraft costs.
Write to Ian Walker at ian.walker@wsj.com
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September 04, 2020 at 01:12PM
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Ryanair raises EUR400M in share placing - MarketWatch
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