Datalex, the travel retail software group for airlines and one-time darling of the Irish stock market, has faced its fair share of headwinds in recent years. StepsThe Datalex equity raise involves three steps. The remainder is being raised by way of a €4.2 million stock market share placing, which was locked in on Friday, and a further €6.1 million on offer to existing shareholders over the next three weeks. StakeBut in the rush to get rid of the Desmond loans, Datalex has structured the equity raise in a way that will actually see the billionaire’s stake rise to about 40 per cent. Meanwhile, Desmond has agreed to keep the additional €10 million credit line available for Datalex until the end of 2022, should the company need more cash.

Source: The Irish Times June 04, 2021 15:22 UTC