Whitbread: share dives after fundraising announcement
(CercleFinance.com) - The Whitbread share is taking a beating in London today, down 12% at 2500 pence in London just before midday (CET), after the hotel and catering group announced its intention to raise around 1 billion pounds in gross proceeds through a share issue, on the sidelines of its results announcement.
The capital increase is designed to ensure that it leaves the Covid-19 pandemic in a potentially stronger position to take advantage of long-term structural growth opportunities, while winning market share in the UK and Germany.
The market doesn't seem to agree, with the share in a spin after this news.
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