We­b­jet flies on rais­ing

Townsville Bulletin - - NEWS -

SHARES in We­b­jet have soared al­most 13 per cent af­ter the on­line travel agency said the first stage of its cap­i­tal rais­ing had gen­er­ated about $ 93 mil­lion.

We­b­jet shares were trad­ing at $ 12.34, at 1427 AEST, up 12.8 per cent on when they en­tered a two- day trad­ing halt for the en­ti­tle­ment of­fer. The com­pany yes­ter­day said the in­sti­tu­tional phase of the cap­i­tal rais­ing — at $ 10 per new share — had a 98 per cent take- up rate.

We­b­jet wants to raise about $ 164 mil­lion to sup­port its ac­qui­si­tion of Eu­ro­pean travel busi­ness JacTravel Group.

Chair­man Roger Sharp says ac­quir­ing JacTravel, a busi­nessto- busi­ness op­er­a­tion, will sup­port We­b­jet’s aim to be­come a more glob­ally di­ver­si­fied travel player.

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