EXISTING shareholders in Webjet look set for an instant boost, with the company today formally opening up its “retail entitlement offer” allowing them to purchase additional shares on a one for one basis.
Those who take up the option will pay $1.70 per share – almost $1 less than the current Webjet price of $2.66, with the deal part of the company’s already successful capital raising in response to the COVID-19 situation (TD 01 Apr).
Clearly Webjet is working to save every cent, telling investors who have not opted to receive electronic communications that it will only mail out black-and white copies of the documents and presentations.
Eligible shareholders are those who held stakes in Webjet as at 7pm on 03 Apr 2020.
Webjet has seen its shares tumble from pre-COVID highs of more than $10, with the company announcing sweeping cuts including the suspension of its Webjet Exclusives offering and the closure of the Online Republic Cruise Sale Finder operation.
The post Webjet opens retail offer appeared first on Travel Daily.
Source: traveldaily