The HolidayCheck Group, heavily burdened by the consequences of the COVID-19 pandemic, wants to increase its capital. The Munich company announced on Thursday that it is planning to carry out a cash capital increase from authorized capital with subscription rights for shareholders. The aim of the financing measure is to make full use of the authorized capital, with which up to 29,156,814 new HolidayCheck Group shares could be issued, that is 50 percent of the company’s current share capital.
The company expects to carry out the capital increase in the first quarter of 2021. “Due to the indefinite duration of the crisis, the company plans to use the funds primarily to secure the financing of business operations,” said the HolidayCheck Group.
The company’s main shareholder, Burda Digital SE, will participate in the capital increase with at least 20 million euros. The prerequisite is that the subscription price is a maximum of 1.65 euros per new HolidayCheck Group.