JD Sports raises £464m for international growth

JD Sports has raised £464 million in funding to support its acquisition plans and international growth strategy.

The funds, raised through placing ordinary shares, represent around 6 per cent of the existing issued share capital of the company.

The sports fashion company’s plans for expansion reflect its success and resilience during the coronavirus pandemic.

Last month the retailer reported a positive Christmas trading period.

Online sales are expected to boost the group’s pre-tax profit over £100 million ahead of full-year market expectation.

Total like-for-like revenues for the twenty-two-week period to 2 January 2021 in the group's businesses were more than 5 per cent ahead of the prior year, as consumers “readily switched between physical and digital channels”, JD said.

The actual results for the full current year will be posted on 13 April 2021.

Applications have been made Financial Conduct Authority for the Placing Shares to be admitted to the premium listing segment of the Official List of the FCA and to the London Stock Exchange for the admission of the Placing Shares to trading on its main market for listed securities.

Admission is expected to take place at or around 8.00 a.m. on 8 February.

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