‘Spoons returns to equity market as lockdown bites

By Sam Kerr
20 Jan 2021

JD Wetherspoon, the UK pub chain, tapped equity investors for £93.7m ($128m) on Tuesday to help see it through the country’s third Covid-19 lockdown. The company is likely to be the first of a number of issuers that seek to raise primary equity capital in the next few months in order to manage the disruption, according to senior equity market sources.

The equity raise is the second time that the pub landlord has approached investors for capital during the pandemic.

Last April the company sold £141m of fresh equity to keep itself afloat during the first lockdown, during  which the government ordered the closure of pubs.

On Tuesday evening the company ...

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