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TUI AG Announces Fully Underwritten Offering - Quick Facts

TUI AG (TUIFF.PK) announced a fully underwritten offering to raise gross proceeds of approximately 544.6 million euros through offering 508,978,534 new shares in the company to the shareholders for subscription. The shareholders will be offered 25 new shares for every 29 existing shares they hold on the record date at a subscription price of 1.07 euros per new share.

TUI AG stated that the principal purpose of the offering is to repay indebtedness in order to improve its liquidity position.

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