Helloworld Travel (ASX:HLO) launches $50 million equity raising

Company News

by Rachael Jones

Helloworld Travel (ASX:HLO) has launched a fully underwritten $50 million Equity Raising to increase the Company’s balance sheet flexibility and to provide liquidity to help it manage the prolonged period of disruption to the global travel industry.

Travel restrictions remain in place and are expected to last through the remainder of 2020 and into 2021.

As a result, the Company expects TTV to remain at 10–12 per cent of previous levels until September 2020 and then progressively increase as State borders and potential trans-Tasman travel bubbles open.

Shares in Helloworld Travel (ASX:HLO) last traded at $1.97.