JD Sports exploring £400m share sale to help enable further acquisition opportunities

Latest News | North West | Retail

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.

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