FinTechFunding

Corporate Travel Management: Raises $262M via institutional offer

  • 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
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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