Mulberry Group Plc (MUL.L), a British luxury fashion company, on Monday announced a retail offer for up to 750,000 new shares of five pence each through retail book at an issue price of 100 pence per share, to raise up to 750,000 pounds.
The issue price represents a discount of 14.9 percent to the closing middle market price of 117.5 pence per share on September 27, and a discount of 6.1 percent to the weighted average price of 106.5 pence per share over the three months ended September 27.
The retail offer is available to existing Mulberry shareholders only, the company said.
In addition, the Group has also announced a subscription for 10 million new shares at the issue price by Challice Limited, the majority shareholder of Mulberry, for gross proceeds of 10 million pounds.
The retail offer is not part of the subscription.
Mulberry will use the net proceeds of the capital raise to strengthen its business and to return to the profitability.
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