Webjet shares have taken off

Ludovic Marin/AFP/Getty Images

Shares in Webjet jumped when they came out of a trading halt after a capital raising to help buy a European travel group, JacTravel.

A short time ago, the shares were up almost 13% to $12.54.

The online travel agency says it raised $93 million from institutions at $10 a share.

“We are delighted with the strong institutional take up of our entitlement offer for the acquisition of JacTravel and that our institutional shareholders share Webjet’s vision to continue the journey from regional B2C player to a globally diversified B2C and B2B travel business,” says chairman Roger Sharp.

“We are excited to welcome the JacTravel management team whose strong track record, combined with Webjet’s highly successful marketing and commercial disciplines, will enhance and accelerate Webjet’s global growth potential.”

Webjet this week announced a deal to buy JacTravel, a market leading global B2B travel business, for an enterprise value of £200 million ($A330 million).

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