DFS Furniture : Retailer DFS share issue priced at a premium; stock jumps

British sofa retailer DFS Furniture said on Thursday it placed 42.3 million shares at a premium of 16% through a stock offering to shore up its liquidity to weather the fallout of the coronavirus crisis.

Shares of the company surged 18% to 152.2 pence by 0711 GMT.

Each share was placed at 150 pence a piece, compared with Wednesday's close of 129 pence, with the offering expected to raise proceeds of about 64 million pounds, the company said.