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JD Wetherspoon to raise 141 mln pounds via placement

Reuters - UK Focus
·1-min read

April 29 (Reuters) - JD Wetherspoon on Wednesday said it intends to raise 141 million pounds ($175 million) through a share placement as the pub operator attempts to tackle the economic impact from the coronavirus crisis and related restrictions.

The company said it would raise the amount through the issue of up to 15.7 million shares at 900 pence per share.

Wetherspoon also said it was starting to plan for the reopening of pubs and hotels in or around June after the British government ordered their closure in March. ($1 = 0.8040 pounds) (Reporting by Aby Jose Koilparambil in Bengaluru Editing by Keith Weir)