Yes, the capital raise is for an acquisition. Jac Travel was...

Yes, the capital raise is for an acquisition. Jac Travel was sold for US$135m 3 years ago, been around for over 40 years. International offices. Last year they were reported to bring in £288.9m in revenue.


http://www.copyright link/street-ta...-acquisition-prepares-raising-20170801-gxni4k
Webjet closes in on acquisition, prepares raising
Fund managers are bracing for an equity raising at Webjet, with the company expected to announce an offer to help fund its latest acquisition.

Sources said Webjet was seeking to buy Jac Travel, a business to business travel agent based in the UK.

A deal is expected as early as Wednesday. UBS and Credit Suisse are said to be on hand to manage a capital raising.

The acquisition is expected to be worth about $200 million.

Fund managers have been on the lookout for deals from Webjet, with boss John Guscic and his team.

Webjet shares went into a trading halt on Wednesday morning.

The acquisition comes at an interesting time for the company after it last week told investors of a disagreement with its auditor BDO over its fiscal year financial statements.