Balfour Beatty rights issue has strong uptake
Engineer and construction contractor Balfour Beatty has revealed that 97.06% of the shares on offer in the three-for-seven rights issue at 180p a share were taken up by shareholders.
The remaining shares were sold at 287p a share. The profit on the sale after deducting the 180p issue price and expenses will be distributed to the investors who did not take up their rights.
The rights issue raised £353m net of expenses. The cash is being used to finance the £380million acquisition of US consultant Parsons Brinckerhoff.
The remaining shares were sold at 287p a share. The profit on the sale after deducting the 180p issue price and expenses will be distributed to the investors who did not take up their rights.
The rights issue raised £353m net of expenses. The cash is being used to finance the £380million acquisition of US consultant Parsons Brinckerhoff.
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