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10/1, 8:58 AM (Source: TeleTrader)
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Rolls-Royce to raise £3B from shareholders, bonds

Rolls-Royce Holdings PLC announced on Thursday it planned to raise £2 billion from shareholders and £1 billion from the bond market to salvage its finances, severely affected by the coronavirus pandemic.

"The capital raise announced today improves our resilience to navigate the current uncertain operating environment," the aircraft company's Chief Executive Officer (CEO) Warren East stated.

Earlier, Rolls-Royce reported its revenue in the first half of 2020 plunged 26% in comparison to the same period last year as a result of the pandemic. It recently confirmed it had abandoned talks regarding the acquisition of the stake in the company to Asian and Middle Eastern sovereign investors.

Breaking the News / JR