On the Beach raises new funds through share offering

On the Beach Group has raised £26 million by means of the sale of recent shares within the firm.

The journey agent bought a complete of seven,870,000 inserting shares at a worth of 330 pence every.

The determine represents round 5 per cent of the prevailing issued capital.

The worth represents a reduction of roughly 5 per cent to the closing share worth of 348 pence per share yesterday.

Numis Securities and Peel Hunt acted as joint bookrunners for the inserting.

On the Beach final month reported losses of £22 million for the primary half of the yr, as the corporate prepares to relaunch operations in September following the Covid-19 pandemic.

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