The Germany-based company said existing shareholders had opted to buy 97.7% of the new shares, including the Mordashov family, the company’s largest shareholder, through its Unifirm investment vehicle.
Unifirm has now raised its stake in Tui from 32% to 33% following the completion of the rights issue.
“The high acceptance rate and the increase in Tui’s stake by Unifirm demonstrate investors’ confidence in the group’s strategy and its implementation and in the future of tourism,” said Tui in a statement.
The new rights issue is the second time this year that Tui has asked shareholders for further investment.
Tui said the new funds from shareholders would allow it to reduce the use of current credit lines and cash facilities from banks.
