- Corporate Travel Management (CTD) has raised $262 million via an institutional entitlement offer
- 90 per cent of eligible shareholders subscribed for the offer, with shares on offer at $13.85 each
- The company also plans to raise an additional $113 million via the retail component of the fully underwritten entitlement offer
- CTD first flagged the capital raise at the start of this week when it entered a trading halt
- It has since announced the funds raised will go towards acquiring Travel and Transport for US$200.4 million (roughly A$280.4 million)
- Shares in CTD have opened trading for $17.77, up 13.2 per cent
