Tui plans capital raise of up to 1 billion euros - Handelsblatt
Reuters
Published Sep 16, 2020 15:12
BERLIN (Reuters) - Tui (DE:TUIGn) is planning a capital increase of between 700 million and 1 billion euros ($829 million-$1.2 billion), as the London-listed travel company looks to ride out the coronavirus-linked travel slump, Handelsblatt reported on Wednesday.
Citing sources familiar with the matter, the German business daily said the stock offering could come as soon as next week. Tui, Europe's leading travel group, suffered a 1.1 billion euro loss in the second quarter of this year.
Tui declined comment. Its shares traded 3.5% lower on the day, bringing losses in the year-to-date to more than a third.
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Written By: Reuters
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