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Newfoundland & Labrador > Business > Reuters

UK fashion retailer ASOS raises 247 million pounds in placing

Reuters | Posted: April 8, 2020, 6:19 a.m. | Updated: April 8, 2020, 5:10 a.m. | 1 Min Read

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LONDON (Reuters) - British online fashion retailer ASOS Plc said it had raised 247 million pounds ($304 million) via a placing, to help it shore up its finances in case of a prolonged business downturn from the coronavirus pandemic.

ASOS, which said on Tuesday it was planning the equity raising, said on Wednesday it had placed 15.8 million new shares at a price of 15.60 pounds per share, equivalent to 18.8% of its ordinary share capital prior to the placing.

(Reporting by Sarah Young; editing by Jason Neely)

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