SYDNEY, June 15 (Reuters) - Virgin Australia (VAH) is seeking to raise A$852 million ($626.13 million) through an equity raising to strengthen its balance sheet, the airline said on Wednesday.
The proposal, where shareholders will be offered stock at $0.21 per share, is the outcome of a capital structure review announced earlier this year.
Virgin Australia requires the cash injection to cut debt amassed, in part, by its expansion out of the low-cost carrier market to compete with Qantas Airways Ltd.
($1 = 1.3607 Australian dollars)
News: VAH Virgin Australia seeks $626m through equity raising
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