Liberum Joint Bookrunner on £50m placing for fastjet plc
Liberum is Joint Bookrunner and Global Co-ordinator on today's £50m placing of new ordinary shares in AIM-listed low-cost African airline fastjet plc (Ticker: FJET LN).
The proceeds are to be used to grow fastjet's operations in Tanzania and launch new ones, first in Zambia and Zimbabwe followed by Kenya and South Africa.
The company plans to grow its fleet of leased and owned aircraft to 34 by 2018 from three currently and the new funds raised will help purchase used Airbus A319 aircraft.
Admission and settlement of placing shares is expected April 22 subject to a General Meeting on April 20.
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