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Ryanair boosts balance sheet with 400 million euro share placement

DUBLIN, Sept 4 (Reuters) - Ryanair raised 400 million euros from shareholders via a share placement aimed at strengthening its balance sheet in the wake of the COVID-19 pandemic, Europe’s largest low-cost carrier said on Friday.

The Irish airline issued 35,242,291 shares at a price of 11.35 per share, a discount of approximately 2.6% to its closing price on Thursday, it said in a statement.

Ryanair decided to raise the funds to capitalise on opportunities created by COVID-19 disruption and to “de-risk” its debt repayments over the next 12 months, it said on Thursday. (Reporting by Conor Humphries; editing by Jason Neely)

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