Shareholders take third of Debenham’s offering

Jun 24 2009 by Graeme Brown, Birmingham Post

Debenhams’ shareholders have taken a third of its share offering in a £323 million fund-raising.

The department store chain hopes to use the cash to shrug off its debt burden, which stood at £971.1 million at the end of April, and help it to take advantage of opportunities in the recession. It said about 30.3 per cent of the shares had been accepted by current holders.