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UK fashion retailer ASOS raises 247 mln stg in placing

Reuters - UK Focus

LONDON, April 8 (Reuters) - British online fashion retailer ASOS Plc said it had raised 247 million pounds ($304 million) via a placing, to help it shore up its finances in case of a prolonged business downturn from the coronavirus pandemic.

ASOS, which said on Tuesday it was planning the equity raising, said on Wednesday it had placed 15.8 million new shares at a price of 15.60 pounds per share, equivalent to 18.8% of its ordinary share capital prior to the placing.

($1 = 0.8124 pounds) (Reporting by Sarah Young; editing by Jason Neely)