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TUI AG - Anglo-German tour operator - Raises €425 million gross from placing of 162.3 million shares at a price of €2.62 each via an accelerated bookbuild. The new shares represent 10% of the total outstanding before the placing. Fundraise was first announced on Tuesday and will be used to pay back German government Covid-19-related aid of €671 million. Once this is done, the company may resume paying dividends, as suspension of dividends until repayment was a condition for the aid.
Current stock price: 217.52 pence, down 12%
12-month change: down 26%
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