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Johnson Service launches £85m equity raising, citing Covid-19 disruptions

By BFN News | 07:58 AM | Friday 29 May, 2020


Textile services provider Johnson Service detailed plans to raise about £85m through a discounted share placing. The company also said it continued to see a 'significant' amount of disruption across its markets owing to the Covid-19 pandemic. New shares in Johnson Service would be offered at 115p each, representing a 7% discount to the 10-day average closing mid-market price of 123.6p ending on 28 May. The net proceeds of the placing would be used to improve the group's liquidity position and strengthen its balance sheet. Story provided by StockMarketWire.com

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