Share Prices & Company Research

Market News

12 Mar 2021 | 08:01

Hollywood Bowl raises £30m in placing to accelerate expansion

(Sharecast News) - Hollywood Bowl said on Friday that it has raised around £30m in a placing to accelerate its expansion plans. The ten-pin bowling operator placed just over 13m shares through an accelerated bookbuild - a stake of about 8.3% - at 230p each. This is an 8% discount to the closing share price on Thursday.

The proceeds will allow Hollywood Bowl "to invest in new centre opening opportunities, resume its planned revenue generating and cost saving capex programme in existing centres and to strengthen the balance sheet".

Chief executive Stephen Burns said: "Today's successful placing allows us to reignite our customer-led growth strategy as we look ahead to the reopening of our estate, enabling investment in our exciting new centre pipeline, our ongoing refurbishment programme, as well as the rollout of initiatives to enhance our customer proposition.

"We look forward to welcoming our customers and team members back to our centres in May."
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.