Johnston Press may raise funds

JOHNSTON Press, the newspaper publisher which owns The Scotsman, yesterday confirmed it was considering a potential equity fundraising as part of a proposed refinancing of its debt.

The Scotsman office in Edinburgh. Picture: Jayne Emsley

In a stock market statement, the company said that it was considering a range of options but that “the quantum of any equity fundraising has not yet been determined”.

The company said in December that it intended to pursue a refinancing of its debt facilities in 2014.

Yesterday’s statement also said there can be no certainty that a refinancing of debt facilities will be concluded in 2014, or that an equity fundraising will proceed.

Shares in Johnston Press, which have doubled since October, closed down 0.5p at 26p.