Global law firm Ashurst is advising boohoo group plc, trading as Debenhams Group, on its equity fundraising. The fundraise was significantly oversubscribed at an issue price of 18 pence per share, a 5 per cent. discount to the closing share price of 19 pence per share on 17 February 2026.
As a result of the upsized fundraise, Debenhams has raised gross proceeds of approximately £40 million (before expenses) through the placing of 200,000,000 new ordinary shares, and a subscription for 22,222,222 new ordinary shares, at the issue price, and net proceeds of approximately £38.7 million after expenses associated with the fundraise. Net proceeds of the fundraise are intended to create additional liquidity which, in turn, will deliver improved covenant amendments. This will provide greater financial flexibility as the Debenhams Group works to deliver its turnaround and associated growth plan. Admission of the new ordinary shares is expected to take place at 8.00 a.m. on 23 February 2026.
The Ashurst team is being led by partner Tom Mercer, with support from senior associates Maria McAlister and Louise Johnson and associate Hassan Naveed. Partner Tim Rennie and senior associate Dan Smith provided additional support on debt-related aspects.
