DFS raises £64m in share sale at 16.3% premium

Doncaster-based DFS Furniture said on Thursday it raised £64 million through the placing and subscription of 42.6 million shares at 150p each.

DFS said the 150p placing price represented a premium of 16.3% to the closing share price of 129p on Wednesday.

DFS shares rose about 18% on Thursday to around 152p.

The new shares together represent 19.9% of the issued ordinary share capital of DFS prior to the placing and subscription.

On Wednesday, DFS had issued a trading statement saying: “There has been strong momentum from the group’s online platform with www.dfs.co.uk online gross sales orders up by 24% over the period from 25 March 2020 to 19 April 2020.

“Consequently, The Group’s order bank has risen to £194 million as at 19 April 2020 from approximately £185 million on 25 March 2020.”

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