On The Beach Group plans equity raise as travelers ditch bookings
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(Reuters) - Holiday package provider On The Beach Group said on Thursday it intends to raise equity worth about 20% of its share capital to help it ride out a slump in travel demand due to the coronavirus outbreak.The company said a majority of bookings it took in the first half of the year will not travel in the second-half and it will take a charge of about 35 million pounds in the first half.