RE: Sky: Ian King10 May 2023 18:01
LONDON, May 10 (Reuters) - British online fashion retailer ASOS has ample liquidity meaning it does not require another equity raise, its boss said on Wednesday.
“We’re not seeing an equity raise on the horizon,” Chief Executive José Antonio Ramos Calamonte told Reuters on Wednesday after ASOS reported a first half loss.
ASOS has a 350 million pound ($442 million) revolving credit facility through to November 2024 and at its Feb. 28 half year end had cash and undrawn facilities of 408.6 million pounds.
Shares in the retailer have halved over the last year, with some analysts fearing it may need to raise further equity. The stock was down 8% in early deals on Wednesday.