$26 million injected into Qantas after share offer

Closing off its latest round of share offers, Qantas has announced that its five-day share purchase plan has been completed injecting fresh funds into the carrier.

Qantas’ five-day Share Purchase Plan was offered to existing Qantas shareholders, allowing each shareholder to purchase up to AU$10,000 worth of new Qantas shares for a price-weighted amount determined by the five-trading days to the 13th of March, 2009.

“This Share Purchase Plan was designed to provide retail shareholders with an opportunity to subscribe for up to A$10,000 of new ordinary shares, free of brokerage costs, given they were unable to participate in the institutional placement,” said Alan Joyce, Qantas CEO.

This latest round saw investors commit to an AU$1.51 a share price.

All together, AU$26 million was raised for Qantas in this endeavour.  The funds will go to initiatives including new planes, reducing debt and shoring up Qantas’ credit rating.

This follows on an institutional share offer last month which raised AU$500 million.