Business

UK fashion retailer ASOS raises 247 million pounds in placing

British online fashion retailer ASOS Plc (ASOS.L) said it had raised 247 million pounds ($304 million) via a placing, to help it shore up its finances in case of a prolonged business downturn from the coronavirus pandemic.

ASOS, which said on Tuesday it was planning the equity raising, said on Wednesday it had placed 15.8 million new shares at a price of 15.60 pounds per share, equivalent to 18.8% of its ordinary share capital prior to the placing.