Sept 29 (Reuters) - African budget airline Fastjet Plc said on Friday it would raise not less than $44 million, in part through a placing, to fund expansion in South Africa and Mozambique.
Fastjet plans an accelerated bookbuild to raise gross cash proceeds of $28 million and would sell 60 million shares to Solenta Aviation Holdings Limited to raise $16.2 million.
The company also said that it had entered into a brand licence agreement with privately-held Federal Airlines and Solenta Aviation Mozambique Ltd.
Fastjet shares were up 1.1 percent at 21.55 pence at 0842 GMT. (Reporting by Rahul B in Bengaluru; editing by Alexander Smith)