11th May 2018 17:21
LONDON (Alliance News) - Construction materials firm Breedon Group PLC said Friday it raised GBP4.2 million through an open offer of 5.5 million shares.
Breedon said there was an 100% take-up of the shares through the offer. All qualifying shareholders who have applied for shares under the offer will receive the full number applied for. For those who applied for excess allotment, they will receive 41% of those requested.
After admission of the 5.5 million shares - expected on Monday - Breedon will have 1.7 billion shares outstanding.
On Thursday, the company appears to have remedied concerns raised by the UK Competition & Markets Authority by offering not to hand over 27 concrete plants as part of an asset swap with Tarmac Trading Ltd. Breedon would still, however, acquire the four quarries and asphalt plants proposed under the deal.
Shares in Breedon closed up 0.4% at 84.10 pence each on Friday.
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Breedon