4/23, 3:46 PM (Source: TeleTrader)
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Expedia to raise $3.2B new capital to fight COVID-19 impact

American online travel shopping company for consumer and small business travel Expedia Group Inc said on Thursday it is raising $3.2 billion in order to combat coronavirus impact on the company's business and overall travel demand.

The company also announced that its Vice Chairman Peter Kern will now serve as its chief executive officer. Kern pledged to let go of his dividend.

After the announcement, shares of Expedia rose 5.57% to $65.2 at 9:42 am ET.

Breaking the News / TF