TUI said Friday it plans to issue 328,910,448 new ordinary registered shares to raise 1.8 billion euros.
The net proceeds from the offering, priced at 5.55 euros per share, will be used to bolster its balance sheet via the reduction of interest costs and debts, including aid from the German Economic Stabilization Fund.
Subscriptions for the German leisure, travel and tourism company's offering will be accepted until April 17.