Details of the long awaited share placing by cash-strapped sportswear retailer JJB Sports have been released, resulting in a much needed boost to the share price.The company is proposing to raise £65m (gross) and £60m (net) through a placing and open offer of 162.5m shares at 40p each, a significant premium to the prevailing share price ahead of the placing announcement.Of the new shares being issued, 97.1m have already been placed with investors. The remaining 40.3% of the newly issued shares will be made available to shareholders via open offer on the basis of 1 new share for every 2 shares currently held, and via a provisional share placing.The capital raising is conditional on, among other things, the approval of shareholders at a general meeting to be held at 11:00 am on 26 April 2011.---jh