African start-up Fastjet has raised another £660,000 ($1.2 million) in equity through a draw-down on an existing equity financing facility (EFF) agreement with Darwin Strategic, a majority-owned subsidiary of Henderson Global Investors Volantis Capital.
The carrier issued 66,000,000 new ordinary shares at a placing price of 1p per share. This issuance comes under a £5 million EFF agreement. Last month Fastjet issued 79,000,000 shares of 1p each to raise £790,000 via a draw down on its EFF.
These new shares rank pari passu in all respects with existing ordinary shares of 1p each in Fastjet.
Fastjet's new enlarged share capital will comprise of 3,052,472,570 ordinary shares with voting rights.
The airline says the EFF shares is available to trade on AIM, the small companies market at the London Stock Exchange, by 5 August.