Juventus said on Friday it had raised 97.8 million euros ($112.9 million) through a share placement to institutional investors, a move aimed at funding its multi-year strategic plan.

The Turin-based soccer club completed the capital hike by placing 37.9 million new ordinary shares, equal to 9.1% of its capital following the placement, at a price of 2.58 euros per share, it said in a statement.