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Birmingham Post
Birmingham Post
Business
Tom Houghton

JD Sports raises £464m in latest share placing as it eyes even more acquisitions

Sports retail giant JD Sports has raised £464m in its latest share placing to support future acquisitions.

The Greater Manchester-based retailer announced on Thursday morning it had placed a total of 58,393,989 new ordinary shares in the capital of the company by Investec Bank and Peel Hunt.

That was at an issue price of 795 pence per share.

It represented around 6% of the company's existing issued share capital.

The move will help support more acquisitions after the company announced earlier this week it had bought fashion firm DLTR Villa.

The Bury firm completed a conditional agreement to buy the US company, which operates 247 stores in America, mostly under the Sneaker Villa and DLTR brands.

Announcing the share placing on Wednesday evening, JD Sports said it believes there are a "number of potentially attractive acquisition opportunities" that will become available "in due course".

It said these would continue to support the firm's "successful global expansion strategy".

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