Wagamama owner raises cash to see it through lockdown
The Restaurant Group, the owner of numerous UK dining brands including Wagamama and Frankie & Benny's, raised £57m through an equity raise on Wednesday night to see it through what it expects to be a long period of Covid-19 lockdown with all its restaurants closed until June.
JP Morgan was the sole bookrunner on the 98.2m share placing, worth 19.9% of the company’s share capital.The proceeds of the raise will be used to provide it with “sufficient liquidity” in order to continue to operate through what it called an extraordinary period; the company ...
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