April 23, 2020 / 7:35 AM / 2 months ago

Retailer DFS share issue priced at a premium; stock jumps

(Reuters) - British sofa retailer DFS Furniture (DFSD.L) said on Thursday it placed 42.3 million shares at a premium of 16% through a stock offering to shore up its liquidity to weather the fallout of the coronavirus crisis.

Shares of the company surged 18% to 152.2 pence by 0711 GMT.

Each share was placed at 150 pence a piece, compared with Wednesday’s close of 129 pence, with the offering expected to raise proceeds of about 64 million pounds, the company said.

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