Markets primed for €2.75bn IAG rights issue
Equity capital markets are preparing for a wave of rights issues this autumn as companies raise capital to withstand a prolonged Covid-19 pandemic. One of the most talked about is a rights issue for IAG, the airline holding company that owns British Airways, with market participants praying that sentiment holds up throughout August enough to allow the deal to succeed in September.
IAG said at the end of July that it wants to raise €2.75bn through a rights issue to give it enough liquidity to withstand Covid-19 disruption until 2023.
The deal must be approved at an extraordinary general meeting in September, after which it will be launched.Qatar Airways, ...