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Tui plans capital raise of up to 1 billion euros - Handelsblatt

Published 16/09/2020, 15:12
Updated 16/09/2020, 15:15
© Reuters. FILE PHOTO: Logo of Germany-based travel company TUI

BERLIN (Reuters) - Tui (DE:TUIGn) is planning a capital increase of between 700 million and 1 billion euros ($829 million-$1.2 billion), as the London-listed travel company looks to ride out the coronavirus-linked travel slump, Handelsblatt reported on Wednesday.

Citing sources familiar with the matter, the German business daily said the stock offering could come as soon as next week. Tui, Europe's leading travel group, suffered a 1.1 billion euro loss in the second quarter of this year.

Tui declined comment. Its shares traded 3.5% lower on the day, bringing losses in the year-to-date to more than a third.

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