May 22, 2020 / 10:50 AM / 5 days ago

On The Beach raises 67.3 million pounds as virus hits travel bookings

(Reuters) - Holiday package provider On The Beach (OTB.L) said on Friday it raised 67.3 million pounds, by issuing equity worth about 20% of its share capital, to help it ride out a slump in travel demand due to the coronavirus outbreak.

Shares in the company were up 1.7% at 262 pence by 1042 GMT.

OTB said 26.1 million shares had been placed by its joint bookrunners at a price of 257.5 pence per share.

Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shinjini Ganguli

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