Wagamama owner seeks cash to survive lockdown

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By Sam Kerr
10 Mar 2021

The Restaurant Group, the owner of numerous UK dining brands including Wagamama and Frankie & Benny’s, launched a £175m equity raising on Wednesday to see it through to the end of the UK’s Covid-19 lockdown.

The company will sell 95.3m shares in a firm placing and 77.7m shares in a placing and open offer. The offer price is £1.

A placing and open offer is a two stage structure in which investors provisionally apply for shares in a share placing. But these shares are ...

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