Rights issue by Hyve Group plc
Deal TypeCapital Markets & Transaction Services
IndustryTechnology & Media
Sub-IndustryMedia and entertainment
ClientHyve Group plc
In June 2020, Hyve Group plc completed a rights issue, raising gross proceeds of £126.6m. BDO acted as reporting accountant on the transaction.
Hyve is a global events business, with a portfolio of 133 exhibitions and conferences that enable customers to connect, advance their business and contribute to shaping industry innovation.
The restrictions imposed across the world as a result of COVID-19 has resulted in the postponement and cancellation of many of the Group's events, resulting in a material impact on its financial position. The rights issue was one of a number of measures taken to strengthen the Group's balance sheet.