Money Magazine

Companies need more cash to cope with Covid-19

DASH FOR CASH

The past couple of months have seen a rush of capital raisings by companies looking to shore up their reserves to get through the virus-induced downturn. Around $8 billion was raised by the end of April and the total is expected to rise well beyond that.

National Australia Bank (NAB) undertook a $3.5 billion capital raising in May. Other companies calling on shareholders for cash have included big names such as Cochlear, Webjet, Southern Cross Media, Flight Centre, Oil

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