Gol raises more than $350 million in share offering

Gol said it raised BRL627.1 million ($356.4 million) through the sale of 38 million common and preferred shares, part of a global share offering comprising 62.2 million shares that netted BRL1.07 billion. Gol controlling shareholder Fundo ASAS also participated in the capital raising (ATWOnline, Sept. 24). Gol said its improved cash position now represents more than 20% of net revenue in the past 12 months