10-Sep-2009 1:03 PM

WestJet seeks to raise CAD150 million in fresh equity

WestJet announced (09-Sep-2009) it has entered into an agreement with a syndicate of underwriters led by CIBC, to issue 13.4 million Common and Variable Voting Shares with an option to purchase up to an additional 2.0 million shares. At a price of CAD11.20 per share, the carrier hopes to raise approximately CAD150 million (USD139 million) or approximately CAD172.5 million (USD159.9 million) if the additional shares are also purchased. [more]