Manchester-based JD Sports has today confirmed that is in talks over a £400m share sale, as part of wider plans to increase its number of acquisitions going into 2021.
This morning, a spokesperson from JD Sports revealed: “(JD Sports) is exploring additional funding options with a view to increasing flexibility to invest in future strategic opportunities and that this may involve a non-pre-emptive equity placing. A further announcement will be made as and when appropriate.”
The equity placing could happen this week – and is rumoured to be as much as £400m.
The news follows last months acquisition of Shoe Palace, a US retailer, for £490m.
Despite the struggles faced by the retail sector, due to the COVID-19 pandemic, JD Sports has seen its share price trade trade at similar levels since March 2020 – and the firm has a reported market value of around £8bn.