(Alliance News) - JD Sports Fashion PLC on Thursday raised GBP464.2 million through a placing of shares, the proceeds of which will go towards supporting investment in expanding the company and to capitalise on acquisition opportunities.
The FTSE 100 sportswear retailer issued 58.4 million shares at a price of 795 pence each, which reflects a 2.5% discount to the closing price of 815p on Wednesday. The shares placed represent around 6.0% of its existing share capital.
Shares in JD Sports Fashion were up 0.4% at 818.00 pence on Thursday in London.
Peel Hunt LLP and Investec Bank PLC both acted as joint global co-coordinators and joint bookrunners for the placing.
Following the placing, JD Sports Fashion will have 1.03 billion shares issued overall.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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