Finance
Debenhams raises nearly $54 million in oversubscribed fundraise
Published by Global Banking & Finance Review®
Posted on February 19, 2026
1 min readLast updated: February 19, 2026
Tags:corporate finance
Quick Summary
Debenhams raised about £40m via an oversubscribed 18p placing and subscription, topping its £35m goal. The 222.2m new shares boost liquidity for its turnaround, with net proceeds of £38.7m. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/boohoo-group--debs/result-of-fundraise-and-board-change/9437274))
Debenhams raises £40m in oversubscribed placing to aid turnaround
Feb 19 (Reuters) - British fashion retailer Debenhams said on Thursday it has raised about 40 million pounds ($53.99 million) through an oversubscribed share placement, surpassing its initial 35 million-pound target, as it looks to boost liquidity.
Formerly known as the Boohoo Group, Debenhams has been cutting costs and debt to turn around a business straddled by supply-chain challenges and weak demand.
It has also been negotiating with lending syndicates to secure additional financial flexibility.
"The fundraise will deliver an improved capital structure for the Group, providing us with greater financial flexibility to execute our turnaround strategy and deliver value for all shareholders," Group CEO Dan Finley said in a statement.
The company said it has sold 222.2 million new shares at 18 pence each, with net proceeds of 38.7 million pounds after expenses.
($1 = 0.7409 pounds)
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Sumana Nandy)
Key Takeaways
- •Debenhams Group raised ~£40m gross via an oversubscribed placing and subscription at 18p, issuing 222.2m new shares; net proceeds ~£38.7m. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/boohoo-group--debs/result-of-fundraise-and-board-change/9437274))
- •The equity raise was upsized from an initial £35m target on strong investor demand. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/boohoo-group--debs/result-of-fundraise-and-board-change/9437274))
- •Proceeds aim to strengthen liquidity and the capital structure, enhancing flexibility to execute the turnaround and support lender covenant amendments. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/boohoo-group--debs/result-of-fundraise-and-board-change/9437274))
- •Admission of the new shares to AIM is expected on February 23, 2026. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/boohoo-group--debs/result-of-fundraise-and-board-change/9437274))
- •Directors including Mahmud Kamani and CEO Dan Finley participated; Iain McDonald stepped down to facilitate participation; Frasers Group also subscribed. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/boohoo-group--debs/result-of-fundraise-and-board-change/9437274))
Frequently Asked Questions about Debenhams raises nearly $54 million in oversubscribed fundraise
1How much did Debenhams raise and was it oversubscribed?
About £40m gross via an oversubscribed placing and subscription at 18p per share, delivering net proceeds of roughly £38.7m. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/boohoo-group--debs/result-of-fundraise-and-board-change/9437274))
2How many shares were issued and at what price?
A total of 222,222,222 new shares were issued at 18 pence each (200m placing shares and 22.22m subscription shares). ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/boohoo-group--debs/result-of-fundraise-and-board-change/9437274))
3When will the new shares start trading?
Admission of the new shares to trading on AIM is expected at 8:00 a.m. on February 23, 2026, subject to customary conditions. ([investegate.co.uk](https://www.investegate.co.uk/announcement/rns/boohoo-group--debs/result-of-fundraise-and-board-change/9437274))
