June 25, 2020 / 6:20 AM / 15 days ago

Airline easyJet raises $520 million in share placing

LONDON, June 25 (Reuters) - Budget airline easyJet on Thursday said it had raised about 419 million pounds ($520.5 million) through a share placing to help it withstand the COVID-19 pandemic.

The airline said it had placed a total of 59.5 million new ordinary shares at a price of 703 pence per share after announcing the move after the market’s close on Wednesday.

“The company is pleased by the strong support it has received from existing shareholders and others,” the airline said in a statement. ($1 = 0.8050 pounds) (Reporting by Alistair Smout; editing by James Davey)

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