Alliance Airlines raises about A$40 million to shore up balance sheet
Alliance Aviation Services, trading as Alliance Airlines, has completed a capital raise of roughly A$40 million, most of it from institutional investors, with only a small share of the retail offer taken up.
Alliance Aviation Services, which trades as Alliance Airlines, has closed a capital raise of about 40 million Australian dollars (roughly 23 million euros).
An institutional placement and an institutional entitlement offer accounted for around 33 million dollars (about 19 million euros).
The retail offer that followed drew subscriptions for only about 10.6 percent of the shares on offer. By the company's account, 113 shareholders bought 909,226 new shares for a total of about 636,000 Australian dollars (around 366,000 euros).
A little over nine million shares remaining go to the placement subscribers. Alliance said the added capital will strengthen its balance sheet and support the restructuring already under way.
Sources
- aerotelegraph.comAlliance Airlines frisches Kapital für Sanierung