Flight Centre raised AU$180 million via a placement

Flight Centre Travel Limited (ASX: FLT) announced the successful completion of its institutional placement to raise AU$180 million. The placement comprised the issue of approx. 12.3 million fully paid ordinary shares at an issue price of AU$14.60 per new share, and the issue price represents a 7.8% discount to the last closing price of AU$15.83 per share.

The proceeds from the placement will be used to fund the acquisition of a 100% stake in Luxury Travel Holdings Limited. In addition to the placement, the company also announced a non-underwritten Share Purchase Plan, in which Eligible Shareholders offered the opportunity to apply for up to AU$30,000 worth of the company’s shares to potentially raise approx. AU$40.0 million.

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