Debenhams Group raises £40m through ‘oversubscribed’ fundraise

Jangoulun Singsit

Thu, February 19, 2026 astatine 5:51 AM CST 2 min read

The UK-based online retailer and fashion-led marketplace had antecedently acceptable retired plans to behaviour this fundraising process successful an announcement dated 18 February 2026.

It completed the placing and subscription astatine an contented terms of 18 pence per share, which represented a 5% discount compared to the 19 pence closing terms connected 17 February 2026.

The fundraise, described arsenic “significantly oversubscribed” astatine the acceptable contented price, progressive the placing of 200 cardinal caller mean shares and a subscription for 22.22 cardinal caller mean shares.

After deducting expenses related to the transaction, nett proceeds basal astatine astir £38.7m.

Admission of the caller mean shares to trading connected AIM is scheduled to instrumentality spot connected 23 February 2026. The shares volition beryllium issued afloat paid and volition fertile arsenic with existing mean shares, including eligibility for aboriginal dividends oregon different distributions.

Debenhams Group CEO Dan Finley said: “We are pleased with the beardown level of enactment from caller and existing shareholders. The occurrence of the fundraise demonstrates the spot of enactment for our multi-year turnaround strategy. The fundraise volition present an improved superior operation for the Group, providing america with greater fiscal flexibility to execute our turnaround strategy and present worth for each shareholders.”

In transportation with the fundraising activities, Iain McDonald has stepped down from his positions arsenic non-executive manager and seat of the remuneration committee with contiguous effect.

This alteration enables information successful the fundraise by definite funds managed by McDonald, who was among those taking portion successful the transaction alongside Dan Finley, manager Mahmud Kamani and associated parties.

With Tom Handley joining past twelvemonth and Tim Morris moving into the autarkic seat relation successful 2024, the committee stated that it remains of due size and independency pursuing McDonald’s departure.

Iain McDonald said: “It has been a pleasance to beryllium a non-executive manager astatine Debenhams implicit the past 9 years and I americium delighted to enactment the Company successful the Fundraising. This should beryllium viewed arsenic a measurement of however overmuch I judge the existent marketplace valuation of the concern undervalues its aboriginal prospects. Dan has transformed the outgo basal and concern exemplary since being installed arsenic CEO and with the re-basing of the concern to a profitable halfway present mostly complete, the prospects for beardown maturation and currency procreation are the champion for galore years. I person assurance successful the Board and wider absorption squad connected delivering its turnaround. I look guardant to watching the continued momentum of the concern arsenic a supportive investor.”