Sydney Airport (ASX:SYD) raises approximately $2.0b

Company News

by Michael Luu

Sydney Airport (ASX:SYD) has completed a retail shortfall bookbuild to strengthen its “financial resilience” in “challenging” pandemic circumstances. The milestone marked the competition of its Entitlement Offer worth $695 million. Under the bookbuild, 58.1 million New Securities have been issued at an offer price of $5.50 per New Security.

The Entitlement Offer, in combination with the Institution Offer on 14 August 2020, has generated approximately $2.0 billion. Sydney Airport Chairman, Trevor Gerber believes this will ensure the company’s strong positioning when “recovery emerges”.

Shares in Sydney Airport (ASX:SYD)  are trading 2.26 per cent lower at $5.61

Michael Luu

Finance News Network
Michael joined FNN in December 2017 with a passion for creativity and TV production. Possessing over four years of international experience in broadcasting, he has hosted, edited and produced video content for Vietnam’s national broadcaster VTV, Germany’s DWTV and the APEC Summit. Michael is also a freelance videographer and casual correspondent for VTV in Australia.