Webjet takes off after $93m cap raising

Webjet shares are higher after the company raised about $93 million from its institutional shareholders in the first stage of its capital raising.

Webjet shares take off after the company raises $93 million from its institutional shareholders. (AAP)

Shares in Webjet have soared almost 13 per cent higher after the online travel agency said the first stage of its capital raising had generated about $93 million.

Webjet shares were trading at $12.34, at 1427 AEST, up 12.8 per cent on when they entered a two-day trading halt for the the entitlement offer.

The company on Friday said the institutional phase of the capital raising - at $10 per new share - had a 98 per cent take-up rate, adding that the retail component would open on August 10.

Webjet wants to raise about $164 million to support its acquisition of European travel business JacTravel Group.

Chairman Roger Sharp says acquiring JacTravel, a business-to-business operation, will support Webjet's aim to become a more globally diversified travel player.