Fastjet to raise capital

After posting a warning that it needed fund from shareholders to continue operations, fastjet, the low-cost African airline, has now announced a proposed capital raising that seeks to raise at least US$10 million. The placement is using an accelerated book build to at least $7 million at a placing price of 8 pence per new ordinary share, with at least $3 million to be raised by a subscription by Solenta Aviation Holdings, which will subscribe for 28,924,538 shares at the placing price. The company is also proposing to raise up to £1.6 million (approximately US$2.1 million) with an open offer