Wetherspoon raises $128 million in second cash call By Reuters

(Reuters) – British pub operator Wetherspoon on Wednesday said it raised 93.7 million pounds ($127.92 million) in its second cash call from investors since the start of the COVID-19 pandemic, as the government’s order to close hospitality venues hammers its finances.

The cheap beer specialist said 8.4 million new shares had been placed by Investec Bank at a price of 1,120 pence per share, a discount of more than 5% to Tuesday’s closing price.

($1 = 0.7325 pounds)