Kier's £264m rights issue result announced

By Hamish Champ2018-12-20T11:09:00

Contractor says 38% of new shares have been taken up

Just over a third of Kier’s new shares offered as part of its debt-busting rights issue have been taken up by existing investors.

The contractor, which fell out of the FTSE250 stock market index earlier this month, announced the fully underwritten 409p rights issue on the last day of November and plans to spend the net cash proceeds of £250m on sorting out its balance sheet.

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