Fairbridge Capital to sell upto 8.5% stake in Thomas Cook via OFS

Fairbridge Capital, the primary stakeholder in Thomas Cook, has unveiled plans to divest a substantial portion of its holdings in the company. The Offer for Sale (OFS) is scheduled to be open for non-retail investors on November 30, 2023, followed by retail investors on December 1, 2023.

In this strategic move, Fairbridge Capital aims to sell up to 8.5% of its stake in Thomas Cook, translating to a significant base offer size of 3.2 Crore shares, constituting 6.8% of the company’s equity. To sweeten the deal for potential investors, the floor price is set at Rs 125 per share, representing an enticing 26.72% discount compared to the closing price of Rs 158.4.

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As part of the offer, an oversubscription option of 0.8 Crore shares, equivalent to 1.70% of the equity, is made available. With the oversubscription, the total offer size reaches 4.0 Crore shares, amounting to a substantial Rs 500 Crore at the floor price.

This is a developing story…