Rank Group sells £70 million of new shares

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StockMarketWire.com – Gambling group Rank Group has announced it is selling 77,746,020 of new shares at 90p per share to raise £70 million.

The statement said that 76,736,762 of placing shares have been conditionally placed by Peel Hunt and Goodbody Stockbrokers UC with certain existing and new institutional investors, while retail investors have subscribed via the PrimaryBid platform for 1,009,258 new ordinary shares.

The shares comprise 19.9% of the existing ordinary shares. The price 90p per share represents a premium of approximately 4.3% to the closing price on 5 November 2020.

At 8:31am: [
LON:RNK] Rank Group PLC share price was +5.15p at 91.45p

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