Power and water utility companies slump after election call, National Grid rights issue
Utilities companies were the biggest fallers on the London market on Thursday, following the election announcement last night and after a heavily discounted fundraising announced by National Grid PLC (LSE:NG.). After announcing a rights issue at a near-40% discount alongside its results, National Grid shares were the biggest faller, down almost 10%, wiping out all its gains in the year to date.
National Grid slumps after announcing £7bn fundraise
National Grid PLC (LSE:NG.) fell almost 9% after unveiling plans to raise £7 billion to fund infrastructure investment in full-year results.
National Grid slumps after announcing £7bn fundraise
National Grid PLC (LSE:NG.) fell almost 9% after unveiling plans to raise £7 billion to fund infrastructure investment in full-year results.
National Grid launches deep discount share issue to pay for network upgrade
National Grid announces deep discount rights issues and asset sales to pay for network upgrade National Grid has the market's appetite post the election call with a £7 billion equity raise as part of a five-year £60 billion infrastructure investment programme and debt restructuring. The issue is being priced at 645p, a near 40% discount to last night's close suggesting it must have been a struggle to persuade investors to stump up the cash, even though it is fully underwritten.
National Grid launches deep discount share issue to pay for network upgrade
National Grid announces deep discount rights issues and asset sales to pay for network upgrade National Grid has the market's appetite post the election call with a £7 billion equity raise as part of a five-year £60 billion infrastructure investment programme and debt restructuring. The issue is being priced at 645p, a near 40% discount to last night's close suggesting it must have been a struggle to persuade investors to stump up the cash, even though it is fully underwritten.
