IAG will raise 2.741 billion euros through a fully underwritten, heavily discounted capital increase, the owner of British Airways said on Thursday, Trend reports with reference to Reuters.
IAG said it would issue 2.97 billion new shares at 0.92 euros, representing a 36% discount to the theoretical ex-rights price based on the closing price on Wednesday.
For each existing share of IAG, its holder is entitled to one subscription right and 2 subscription rights are required to subscribe for 3 new shares.
The equity raising, to which its biggest shareholder Qatar Airways subscribed for its pro-rata entitlement, was announced in July and approved by shareholders on September 8.