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Asos sold 15.81m new shares, an 18.8% capital increase, at £15.60 a share. That was a small premium to the company’s closing share price on Tuesday evening.
JP Morgan and Numis Securities were global coordinators on the sale. Barclays, BNP Paribas, and HSBC were bookrunners.
The sale was covered multiple times after a wallcrossing exercise, according to a source close to the transaction.
In a regulatory filing, Asos said that 95% of the shares on offer were allocated to existing shareholders, including a pro rata allocation to its largest shareholder Bestseller United, the fashion holding company controlled by Danish billionaire Anders Holch Povlsen.
There were around 120 lines in the book, and 40%...