JD Sports raises £464.2 million to fund acquisition drive
JD Sports has raised £464.2 million through the placing of new shares to accelerate growth and fund its acquisition plans.
The sportswear retailer placed a total of 58.4 new shares at an issue price of 795 pence per share. The placing shares represented approximately 6% of the existing issued share capital of the business.
JD Sports said last week that it was exploring additional funding options that could involve an equity placing. At the time it said: “The board confirms that it is exploring additional funding options with a view to increasing its flexibility to invest in future strategic opportunities.”
Earlier this week, the company announced that it was to acquire US skincare brand DTLR Villa.
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