Qantas raises $51.1 million from non-underwritten equity issue

The Qantas Group has completed  its non-underwritten Share Purchase Plan, raising approximately AUD 71.7 million ($51.1 million)  This follows Qantas’ AUD1,360 million underwritten placement to institutional investors which was successfully completed on July 1, according to an ASX filing. The SPP closed on 5 August 2020. Qantas received valid applications totalling $71.7 million from 8,660 eligible shareholders. This represents a participation rate of approximately 5% of 173,343 eligible shareholders, and an average SPP application amount of $8,200. The take-up is lower than expected and Qantas said in its filing that unlike the underwritten equity raise, the timing of the SPP coincided with