Webjet flies on raising
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.