Fastjet uses facility to raise £790,000

Low-cost African airline Fastjet (LON:FJET) has made use of its equity financing facility to draw down £790,000.

The bank issued 79mln shares at 1p each to the facility’s provider, Darwin Strategic, a wholly-owned subsidiary of Henderson Global Investors Volantis Capital.

Shares closed at 0.98p each the day before the announcement of the draw-down.

Following the issue of stock, Fastjet will have 2,876mln shares in issue.