Just a third of the open offer shares placed by Debenhams earlier this month have been taken up by shareholders.
Debenhams received offers for 30.3% or 73.38 million of the 242.38m open shares offered to the market representing 30.3% of the share placing.
The remaining 168.9m open offer shares have been allocated to firm placees on top of the 161.5m firm placed shares they had already subsrived to.
Earlier this month Debenhams issued the placing and open offer, at 80p per share to hep it raise £323m to help it pay off some of its debt of more than £900m.
The firm placing and placing and open offer are conditional on shareholder approval at the extraordinary general meeting which takes place at 11am this morning.