Rank Group completes Covid capital raise

By Sam Kerr
06 Nov 2020

Rank Group, the UK gambling conglomerate that owns Mecca Bingo and Grosvenor Casinos, completed a capital raise for 19.9% of its share capital, to give it enough headroom to manage through the next stage of the Covid-19 pandemic.

Goodbody and Peel Hunt were the bookrunners on the sale of 77.7m new shares, 19.9% of its share capital at 90p a share raising £70m in gross proceeds. The sale included a retail offer.

The company said the proceeds would be used to strengthen the company's balance sheet, ...

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