Charles Russell Speechlys advises Avation plc on £7.5m secondary placing
Charles Russell Speechlys have advised Avation PLC (LSE: AVAP) the commercial passenger aircraft leasing company, on the successful placing of 6,118,182 new ordinary shares by way of an accelerated bookbuild, with an additional subscription of new 700,000 ordinary shares, raising gross proceeds of £7.5m.
The proceeds will help to increase Avation plc’s working capital position following the completion of its bond restructuring.
Headquartered in Singapore, Avation plc manages a fleet of aircraft which it leases to airlines across the world, with customers include Loganair, Air France, easyJet, Eva Air, Philippine Airlines, Air India, Vietjet Air, Fiji Airways, Mandarin Airlines, Cebu Pacific, Garuda Indonesia, Galistair, airBaltic and Danish Air Transport.
The Charles Russell Speechlys team was led by Paul Arathoon.