Fastjet raising $20 million

Fastjet announced a proposed capital raising last week to raise gross proceeds of £15 million through the issue of new ordinary shares by way of a placing and additional gross proceeds of up to approximately £4.2 million through the issue of up to 8,302,762 new ordinary shares by way of an open offer, all at 50 pence per new ordinary share. The Issue Price of 50 pence represents a significant premium of approximately 116 per cent to the closing price of each existing ordinary share of fastjet of 23.13 pence on 20 July 2016.  The airline said that the issue