Thomas Cook unveils £1.6bn refinancing plan Thomas Cook hopes to raise around £305m from a 2 for 5 rights Issue of 401,556,476 new shares at 76p a share, and a further 120m via a placing of 87,591,241 shares at 137p a share. Thomas Cook announced the refinancing alongside half-year results which showed first-half pre-tax losses narrowed to £391m from £584m loss in the same period a year ago, benefiting from cost cuts and a improving UK performance. A dramatic slump in sales following the Arab Spring forced the company to renegotiate loans and sell off assets to reduce debt. Net debt has fallen by £175m to £1.2bn of the past year. Jefferies Hoare Govett have been appointed a joint corporate broker alongside Credit Suisse.