The troubled travel company Thomas Cook, which owns the tour operator Ving, among other things, wants to raise an additional 150 million pounds, equivalent to 1.7 billion kronor, ahead of the upcoming winter season. The share price plummeted by almost 20 percent in Monday's opening trade.
It was on July 12 that Thomas Cook announced that the company was in discussions with major owner Fosun and several banks about a rescue package that would provide the company with 750 million pounds and entail ”significant dilution” for shareholders. The share price plummeted by 59.5 percent after the announcement.
On Monday, Thomas Cook announced that discussions over the past month also include a capital injection of an additional £150 million in addition to the £750 million previously discussed.
”"This additional capital, of around £150 million, will provide additional liquidity headroom during the upcoming winter period 2019/2020 and ensure the business can continue to invest in its strategy," Thomas Cook writes in a stock exchange release.
The message was received with horror on the London Stock Exchange where the share plummeted by 18.2 percent in early trading. Since the turn of the year, the share is now down 74.6 percent.
Source: di.se
