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Webjet takes off after $93m cap raising

Shares in Webjet have soared almost 13 per cent higher after the online travel agency said the first stage of its capital raising had generated about $93 million.

Webjet shares were trading at $12.34, at 1427 AEST, up 12.8 per cent on when they entered a two-day trading halt for the the entitlement offer.

The company on Friday said the institutional phase of the capital raising - at $10 per new share - had a 98 per cent take-up rate, adding that the retail component would open on August 10.

Webjet wants to raise about $164 million to support its acquisition of European travel business JacTravel Group.

Chairman Roger Sharp says acquiring JacTravel, a business-to-business operation, will support Webjet's aim to become a more globally diversified travel player.

Austrlaian Associated PressBack to Breaking News

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